A total of almost AUS$4.5 million (US$3.5 million) in new funding has been awarded to 22 companies to drive mineral exploration growth in South Australia and the increased investment and job opportunities that will generate.
"The resources sector underpins South Australia's economy and the latest round of the Accelerated Discovery Initiative funding is designed to position our state as a leading supplier of the critical minerals of the economy of the future," said the South Australian Government Minister for Energy and Mining, Dan van Holst Pellekaan.
"The Government continues to push the boundaries of traditional exploration in pursuit of the next Olympic Dam or Carrapateena-class deposit and the enormous economic benefits those operations bring to the state."
Funded through the Economic Business Growth Fund (EBGF), the ADI supports innovative technologies, collaboration and new exploration ideas to fast track responsible mineral exploration activities across our state.
Announcing the 22 successful recipients today, van Holst Pellekaan said the ADI continues to play an important role in maintaining South Australia as an internationally recognised leader in mineral exploration development. "Following the high level of interest in round one in 2020, and in response to COVID-19, the State Government increased funding of the second round from AUS$3 million to AUS$4.5 million.
"It is Australia's most diverse exploration co-funding programme, with the inclusion of geophysics as well as drilling and other exploration techniques, frontier logistics support, technology and research innovation, and Aboriginal employment.
"The successful projects will support activities and innovative technologies to generate and test new exploration ideas and increase new data sets that will help accelerate data sharing among the exploration sector.
"The initiative reflects the changing drivers in exploration, with a heavy emphasis on new technologies, scientific endeavour and upskilling to boost discovery and reduce risk.
"It also fosters meaningful employment and upskilling of aboriginal employees and businesses by part-funding exploration employment and related formal training opportunities.''
This second round is in addition to the first round of the ADI in 2020 which included AUS$3 million in funding across 14 proposals.
The second round was heavily over-subscribed, with a total of 76 high-quality applications received with 22 projects assessed against the project criteria to receive funding.
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