The Australian Government will invest an additional $100 million to extend the Junior Minerals Exploration Incentive (JMEI) by four more years.
The JMEI was introduced in 2018 to support Australian junior mining companies and encourage exploration and development of new resource deposits.
Minister for Resources, Water and Northern Australia Keith Pitt said the extension of the JMEI complements the existing suite of Government support for greenfield exploration, including the $225 million Exploring for the Future Program run by Geoscience Australia.
“Our successful, stable and secure resources sector is underpinned by our world class junior explorers,” the Minister continued.
“These companies ensure the ongoing exploration and the discovery of new mineral resources, including critical minerals that positions Australia to drive the global economy of the future.”
Since its inception, the JMEI has supported 85 junior miners companies, with over half of these companies headquartered in Western Australia.