Co-funded drilling program supports investment in NSW
The Association of Mining and Exploration Companies (AMEC) welcomed the third round of the NSW New Frontiers Co-operative drilling program and the Online Minerals Prospectus released by the Deputy Premier, The Hon. John Barilaro MP, today.
“Just as in other mining states, the Co-operative Drilling Program in NSW is a key government initiative to support mineral exploration in new regions,” said Warren Pearce, Chief Executive of AMEC.
Increasing greenfields mineral exploration requires targeted initiatives and AMEC has continuously advocated for co-funded drilling schemes from both State and Federal Governments.
“AMEC has strongly advocated for programs such as the NSW New Frontiers Co-operative Drilling program, that have proved essential to attracting matching private investment for greenfield exploration.”
“The next big mine will likely be found deep underground, and exploration at depth is both expensive and speculative. Companies and investors need incentives to take these risks which ultimately unlock new mines and support regional NSW and the State economy.”
“Increasing exploration and making new discoveries is critical to building and sustaining a competitive and productive mining industry, and Australia needs greater mineral exploration to discover new mines and ensure the future prosperity of our industry.”
“It is exciting to see the NSW Government looking forward with a new prospectus that outlines the great wealth of minerals in NSW, especially in the critical minerals of the future,” said Mr Pearce.