The Government of Australia has awarded a A$50m grant for exploration and research in order to better equip the mining and resources sector to deal with future challenges.
Resources and Northern Australia Minister Matt Canavan said the funding is set to be provided by the Cooperative Research Centre (CRC) programme, which facilitates industry-led partnerships between industry, researchers and the wider community.
Canavan said: “I welcome the MinEx CRC, which will create new mining opportunities.
“This collaboration will provide new opportunities for mineral discovery in the resources sector and grow the mining equipment, technology and services sector.
“The MinEx CRC aims to deliver more productive, safer and environmentally friendly drilling methods, introduce new technologies for collecting data while drilling and new exploration data on never-before-sampled rocks across the continent.
“This CRC will help sustain our resources industry, securing Australian jobs for the future.”
Assistant Minister Zed Seselja noted that the Australian Government had invested more than A$4.4bn in innovation and collaborative research since the programme’s inception, which has primarily been used to develop practical solutions for Australian industries.
Seselja added: “MinEx CRC will receive A$50m in government funding, and is set to leverage a further A$165m of cash and in-kind funding from CRC participants.
“The CRC programme continues to be central to the Coalition Government’s commitment to improving the competitiveness, productivity and sustainability of Australian industries, delivering significant economic and social benefits to Australians, and securing jobs for the future.”
The research will aim to develop more efficient, safer and environmentally friendly drilling methods for the discovery and drill-out of deposits, including coiled tubing drilling technology.
It will also focus on the design of new technologies to facilitate the collection of data during drilling operations.