Northern Terriority Opens $3 Million Grant Round for Geophysics and Drilling Collaborations

The Northern Territory Government in Australia has just opened a record-breaking $3 million round of grants for the Geophysics and Drilling Collaborations program. This is to address the knowledge gaps in the industry as well as increase exploration.

This program is part of the Resourcing the Territory initiative, which is set to expand in July of 2022 to $9.5 million of funding. The grants for the program will total 15 and will fund up to a total of 50% of the total cost of the applicant’s drilling project. Geophysical surveys, including seismic surveys, will also be funded.

The results of the funding are set to also benefit the wider mining industry, as any information gained from the government-funded projects will then be released to the public, 6 months after the works are completed.

“Our message is clear, if you are looking for the next resource development, come to the Territory.” Mining and Industry Minister Nicol Manison said.