The South Australia Government announced it would extend its Accelerated Discovery Initiative (ADI) until 2025, committing another $11.5 million to the program.
The ADI provides co-financing to mineral exploration activities to attract greater exploration investment, and also focuses on supporting innovative technologies, collaboration and new exploration concepts to fast-track mineral exploration across South Australia.
Minister van Holst Pellekaan said ADI was “Australia’s most diverse exploration co-funding program”, offering support for traditional drilling and geophysics, as well as other non-conventional exploration techniques, frontier logistics support, technology and research innovation.
“With a heavy emphasis on new technologies, scientific endeavour, and upskilling, to boost discovery while reducing risk, ADI reflects the changing drivers in exploration,” the Minister continued.
“Successful projects will bolster activities and support innovative technologies to generate and test new exploration ideas and increase new data sets to help accelerate data sharing between entities within the exploration sector.
“In additional to innovative exploration programs, ADI initiatives have fostered meaningful employment and upskilling of Aboriginal employees and businesses.
ADI has thus far allocated $7.4 million in funding to 36 initiatives during rounds one and two. Round 3 funding opens on 26 November 2021.
“It was pleasing to see round two heavily over-subscribed, with a total of 76 high quality applications received with 22 projects assessed against the project criteria to receive funding, the Minister added.
“We are anticipating a similar amount of interest for round three.”