The Chamber of Minerals and Energy of Western Australia (CME) welcomed the State Government’s announcement of funding for exploration projects.
Funded through the Exploration Incentive Scheme, the co-funded drilling program assists companies in their exploration efforts.
“To establish a future pipeline of projects we rely upon increasing the current level of exploration activity here in Western Australia,” said CME Chief Executive, Reg Howard-Smith
The sector’s major challenge is on the high cost of doing business here in Australia and maintaining WA resource project international competiveness is crucial.
“When combined with decreasing ore grades and new minerals and energy rich regions emerging around the world, the level of competition in the global resources sector is increasing for Western Australia,” said Mr Howard-Smith.
“Programs such as the Exploration Incentive Scheme are welcomed by the resources sector and will deliver a significant return to the people of Western Australia, said Mr Howard-Smith.
Further, CME looks forward to working with the Federal Government to implement their election commitment to introduce a minerals exploration tax credit to boost the flagging exploration sector.
“It is pleasing that both State and Federal Governments recognise the importance of the exploration sector and the challenging environment faced by many companies” said Mr Howard-Smith.
“Australia needs to remain an attractive destination for exploration and the development of resources projects to deliver ongoing prosperity to all West Australians,” said Mr Howard-Smith.
