Applications are open for the latest round ofcollaborative grants for exploration drilling and geophysics in the NorthernTerritory, an NT Government initiative which will help to create jobs andprovide economic benefits.
The Geophysicsand Drilling Collaborations program provides collaborative funding of 50 percent for up to $125,000 per project of the total costs for drilling andgeophysical programs by industry. The projects must be in areas of the NT wherethere is a lack of geological information.
The collaborative grantsprogram is part of the Northern Territory Governments $26 million Resourcing the Territory initiative, whichincludes geoscience and industry stimulus programs to maximise resourcesexploration in the NT.
With an aim to address gaps in the criticalunderstanding of the geology of the NT, the collaborative grants program willencourage projects that may open up new areas for exploration and ensure thedata is made available to the wider exploration community.
Now up to its 12thround of collaborative grants, 2018 saw a record number of applicants receivedfor the program, with 15 projects from 12 different companies potentially receivingmore than $1 million in funding.
The Geophysics and Drilling Collaboration projectfunding is for programs to be undertaken during 2019, and applications willclose on 15 April 2019. Guidelines and assessment criteria can be found at www.minerals.nt.gov.au/collaborations.
As noted by Minister for Primary Industry and Resources, Paul Kirby:
TheTerritory Labor Governments number one priority is jobs.
Initiatives like thisincrease the Territorys profile as a resources investment destination and willbring in investment and exploration expenditure.
Research shows theeconomic return on programs like this is ten times more than what the NTGovernment spends on the initiatives themselves.
