Explorers are being urged to apply for a share in $2m of grants to undertake drilling projects in under-explored areas of Queensland.
The scheme is part of the state’s ‘Smart Mining — Future Prosperity’, a four-year $29m program that kicked off in 2006 to boost exploration in Queensland.
The Department of Mines and Energy (DME) says the new initiative is designed to encourage companies to work in areas that may pose high financial risks
The program has already delivered $4.3m in drilling grants to 37 exploration companies to carry out 47 projects.
Companies can recover up to half their actual costs from the grants, with a limit of $150,000 per proposal. Final applications close on 5 December 2008.
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