Battery metals dominate latest round of the EIS co-funded drilling program

The quest for minerals in Western Australia (WA) is still being driven by the global move to green energy, with battery metals dominating the latest round of the Exploration Incentive Scheme’s (EIS) co-funded drilling program.

Sixty-four per cent of the qualified EIS Round 26 applicants are looking for battery materials, with nickel being the most common. Rare earth elements were also well-liked.

Minister for Mines and Petroleum Bill Johnston said mineral exploration businesses continue to be an important element of WA’s economic prosperity, as seen by record resource sales of $231 billion in 2021-22.

“The search for battery minerals is fundamental to the world’s clean energy transition; the McGowan Government will continue to grow and diversify our resources sector to meet the growing demand for renewables,” Minister Johnston stated.

This interest followed WA’s record nickel sales of $4.9 billion in 2021-22 and all-time high exploration expenditure of $2.5 billion across all mineral sectors.

“WA’s mineral exploration companies continue to lead the nation with the record $2.5 billion invested over the past financial year representing 64 per cent of the Australian total,” the Minister added.

The selected applicants are looking for greenfields opportunities throughout the State, with a particular focus on WA’s remote eastern regions near the Northern Territory border.

Tempest Minerals’ Meleya project, for example, intersected various mineralised zones, including visible copper, in its first drill hole. Drilling on AusQuest’s Balladonia project discovered anomalous lead, zinc, and cadmium, implying that it may have mineralisation equivalent to the world-renowned Broken Hill deposit in New South Wales.

Battery minerals are critical components of a wide range of sustainable energy technologies, including rechargeable batteries, electric vehicles, and wind turbines.

The co-funded Energy Analysis Program (EAP) Series 4 qualified applicants have also been revealed, with four funds granted to projects in the Perth and Canning Basins.

The EAP fosters re-analysis of current data in order to better understand WA’s petroleum and geothermal systems, as well as exploration in new and under-explored locations.