New Mining CRC announced

MinEx CRC, aimed at lifting Australia’s mineral discovery rate has received the go-ahead in the first of the Round 19 CRC announcements.

Assistant Minister for Jobs, Science and Innovation, Zed Seselja made the announcement this morning with Resources Minister Matt Canavan. Senator Canavan addressed the National Press Club today.

Australia’s mineral discovery rate has declined significantly in recent years. In lay terms, our mineral discoveries have mainly occurred where rocky outcrops come out of the ground. The new CRC will help explorers look deeper, more efficiently. Traditional drilling for discovery of minerals is limited by its cost and efficiency. The new CRC brings together exploration companies, mining companies, geoscientists and others to develop new approaches to mineral discovery “undercover”. Drilling and drill technology is critical, but not the only approach in the CRC.

Minister Seselja is expected to make further announcements on Round 19 outcomes shortly. Applications for the 20th CRC selection round are expected to open in May 2018.

The joint media release can be found here.