Western Australia Introduces New Exploration Incentive Plan for Mining Sector
Western Australia's Exploration Incentive Scheme Continues to Boost Mineral Discoveries
The Exploration Incentive Scheme (EIS), a state government initiative in Western Australia, is playing a significant role in promoting mineral exploration and supporting the transition to net-zero emissions. Established in April 2009, the EIS focuses on drilling, geophysics, and energy analysis to discover minerals in greenfield regions.
The scheme, managed by the Geological Survey of Western Australia (GSWA), is a key catalyst for new mineral discoveries by de-risking exploration investment. The latest round, Round 32, opened for applications on August 5, with funding of about $8.9 million available. An average of 50 companies and their projects are expected to be supported, as in previous rounds.
In October 2024, the government announced that 50 successful applicants were assisted through Round 30 of the EIS. Among them were companies like Mineral Resources (ASX:MIN, OTC:MALRF) and its West Pioneer Dome asset, and Constellation Resources (ASX:CR1) with its Fraser Range copper-nickel project.
Recent rounds have supported a significant number of projects. For instance, Round 30, in late 2024, assisted 50 successful applicants working on various exploration projects, including copper-nickel and gold targets. The successful applicants in Round 31, which opened in February 2025 and revealed successful applicants in April, include Torque Metals (ASX: TOR, OTC: TRQMF) with its Paris gold project, RareX with its Khaleesi REE project, and Wildcat Resources (ASX: WC8, OTC: WDCTF) with its Tabba Tabba lithium project.
The Geological Survey of Western Australia continues to play a central role in supporting exploration across the state, acting as a coordinator of the EIS and providing high-quality geoscience. This includes the ongoing diamond drilling at Torque's Paris gold project, which commenced on July 28.
The EIS is focused on the long-term sustainability of Western Australia's resources sector and the demand for critical minerals on the transition to a net-zero energy system. The deadline for submissions for Round 32 of the EIS is August 29. The Cook Government has officially welcomed applications for this round.
The deadline for Round 32 submissions is fast approaching. If you are a mining company with an exploration project in Western Australia, consider applying for the EIS to de-risk your investment and contribute to the state's continued leadership in the global mining industry.
Gold investing could benefit from the ongoing mineral discoveries supported by the Exploration Incentive Scheme in Western Australia, as resource-rich companies like Torque Metals are currently focusing on gold targets with the Paris gold project. Meanwhile, sports enthusiasts may find it interesting to note that some successful recipients of the EIS funding, such as Mineral Resources and Constellation Resources, also have interests beyond mineral exploration, potentially including sponsorship opportunities for sports events in the region.
