Mineral Exploration CRC receives Federal funding
10 April 2018
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MinEx CRC receives $50 million boost for mineral exploration research
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Mining and resources companies back it with $165 million
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Funding will be used for developing technologies to increase mineral discoveries
WA Government:
The McGowan Government welcomes the announcement that
the
Mineral Exploration Cooperative Research Centre's (MinEx CRC) $50
million funding request has been approved by the
Federal Government.
This funding establishes a $215 million national research initiative
aimed at developing technologies to increase the discovery of mineral
deposits.
MinEx CRC will use the financial boost to create more productive,
economical, safer and environmentally friendly methods to discover and
drill out deposits.
The CRC will focus on proving the innovative Coiled Tubing drilling
technology and acquiring previously unobtainable data on prospective
rocks under deep, barren cover.
The announcement comes at a time of declining discoveries of new mineral
deposits and increasing drilling costs, which are hindering Australia's
exploration sector.
MinEx CRC is fortunate to have strong industry and research backing,
with 34 companies, including
BHP,
South32,
Anglo American and
Barrick,
committing $165 million (cash and in-kind) over the next 10 years.
The organisation will commence on July 1, 2018, and have dual
headquarters in Perth and Adelaide; its chief executive officer Andrew
Bailey will be based in Perth.
Comments attributed to Mines and Petroleum Minister Bill
Johnston:
"I'm thrilled to hear that
Western Australia is a major participant in a $215 million
initiative for minerals research.
"The funding will create further opportunities in mineral discovery,
support jobs and grow our world-leading
mining equipment, technology and
services sector.
"The McGowan Government, through the MRIWA, has committed $1 million to
the MinEx CRC and I look forward to the contribution it will make to
help explorers find the next big discovery."
--ENDS--
Source: Western Australia Government - www.mediastatements.wa.gov.au
Contact: Minister's office - 6552 6700
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