Driving Innovation in Resource Discovery: Western Australia's Co-Funded Exploration Drilling Program

Driving Innovation in Resource Discovery: Western Australia's Co-Funded Exploration Drilling Program 

WHAT 

The Exploration Incentive Scheme (EIS) is a transformative initiative by the Western Australian Government designed to boost mineral and energy resource exploration across the state. With significant funding to drive innovation, the EIS focuses on reducing exploration risks and attracting investment into the resources sector. In 2024, the preceding round of the Exploration Incentive Scheme awarded 50 applicants, including 6 prospectors, grants worth SEK 50 million. Key objectives of the scheme include: 

• Geoscience data collection – Generating and sharing high-quality geoscientific data to support exploration activities. 

• Drilling incentives – Providing co-funding for innovative drilling projects to reduce exploration costs for industry players. 

• Resource development – Supporting the discovery and development of critical minerals and energy resources to enhance Western Australia’s economic and industrial growth. 

• Regional benefits – Encouraging exploration in underexplored areas, creating opportunities for regional economic development and job creation. 

HOW

The EIS brings together geoscientists, mining companies, and researchers, with a key feature being the Co-funded Exploration Drilling Program. This initiative offers financial support for eligible projects, providing up to 50% reimbursement for innovative drilling across three categories: Deep Drill, Universal, and Prospector. Applications for the next round open on Monday, 3 February 2025. 

Join the Exploration Incentive Scheme to contribute to the discovery and development of Western Australia’s rich mineral and energy resources. Whether you’re an explorer, researcher, or industry leader, this scheme offers a unique opportunity to reduce exploration risks and drive resource innovation. For more information and to register: Co-funded Exploration Drilling Program. 

CONTACT US 

For more information contact Luciano Benitez at luciano.benitez@business-sweden.se.