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10 May 2021
The Australian Government has extended the Junior Minerals Exploration Incentive (JMEI) by four years with an additional $100 million in funding.
The JMEI extension aims to create more jobs for future miners and has supported 85 junior mining companies since it was first introduced in 2018.
Minister for Resources, Water and Northern Australia Keith Pitt said the JMEI will give explorers tax incentives and encourage new mine developments.
“The resources sector directly employs more than 260,000 people, with most of these jobs in regional Australia,” he said.
“We want to make sure the industry continues to grow and maximises the benefits for all Australians.”
Junior explorers in Australia discover up to 70% of deposits that create new projects.
In April, the Australian Government granted $3 million to expand Geoscience Australia’s Exploring the Future resources program into Tasmania.