Incentive to help foster increased exploration investment

July 02, 2014

Boosting mineral exploration activity will help ensure NSW continues to benefit from the jobs and economic growth that flow from a strong and vibrant mining sector.

The Federal Government today delivered on an election promise to launch the Exploration Development Incentive, which will support junior exploration companies to conduct ‘greenfields’ mineral exploration.

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The Exploration Development Incentive will assist junior explorers in raising capital from
private sector investors through a refundable tax offset.

Over recent years investment in exploration has been falling in NSW. This new incentive should help increase exploration activity, leading to new minerals discoveries that will become the job-generating mining projects of the future.

NSW has some of the best minerals deposits in the world, and the more we know about them the better we can understand the opportunities they might provide.

This Incentive was announced in the recent federal budget after consultation with the NSW Minerals Council, the Minerals Council of Australia and other state councils.

Further information on the Exploration Development Incentive can be found here.

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