Government announces four-year extension of the Junior Minerals Exploration Incentive

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The Federal Government has announced a four-year extension of the Junior Minerals Exploration Incentive (JMEI) as part of the 2021-22 Budget.

Making the announcement, Minister for Resources and Water Keith Pitt said the $100 million expansion of the incentive would allow Australia’s junior mineral explorers to ensure jobs for future generations of miners.

“The JMEI encourages new investment in small minerals exploration companies to help them make the discoveries needed to lock in the long-term future of Australia’s resources sector,” Minister Pitt said in a statement.

“The incentive will help ensure Australia has a continuous investment pipeline for development across regional Australia.

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“Australia’s junior explorers are crucial to the exploration and discovery of new mineral resources, including critical minerals, which will drive Australian exports and support our long-term economic prosperity.”

According to Mr Pitt’s statement, the JMEI scheme opens for applications from 9am, Friday 16 July 2021 (AEST) and will be available on a first-come-first-served basis until available funds are exhausted.

Details on applications for the 2021-22 round can be found on the ATO webpage Junior Minerals Exploration Incentive Participation – forms and instructions | Australian Taxation Office (ato.gov.au).

Image credit: https://www.industry.gov.au/news/junior-minerals-exploration-incentive-applications-opening-16-july