Cooperative Drilling Round 2 preferred applicants announced
24th August 2016 - The Division of Resources and Energy (DRE) Geological Survey unit has finalised the fifteen preferred applicants for the State’s New Frontiers Cooperative Drilling Program, which provides grants to mineral exploration companies that use innovative technologies to search for mineral deposits in untapped areas of NSW.
This round marks the second phase of Cooperative Drilling, following an initial round that ran from 2015 until earlier this year. The Program is a $2 million co-funded Government initiative that provides up to 100 per cent of per metre drilling costs, capped at $200,000 for individual projects.
Successful mineral exploration is critical to the long term economic future of NSW. Resource royalties help fund services such as hospitals, schools and roads.
Mining is vital to the NSW economy with the industry employing around 33,000 people directly and around 132,000 people indirectly through mine and non-mine related services.
Successful drilling programs must be completed and the results, drill samples and reports sent back to DRE before payment.
MAP: Preferred Applicants for Cooperative Drilling round 2 [ 4 MB PDF]
Invitation to Apply – Cooperative Drilling program round 2
Applications for grant funds under the New Frontiers Cooperative Drilling program round 2 are invited by the NSW Government Department of Industry, Skill & Regional Development. The Invitation to Apply opens on 16th November 2015.
About the program
The program is managed by NSW Department of Industry, Skills and Regional Development and is part of a NSW Government initiative to attract further investment into the state. The New Frontiers Cooperative Drilling program will provide grants to successful applicants for exploration drilling programs (Group 1, 2, 6 and 10 minerals only) which demonstrate strong prospectivity, sound financial planning and a proven technical base.
The program is intended to support the long-term sustainability of the NSW resources sector. The anticipated outcomes of the program are:
- To encourage mineral exploration and discovery in NSW that will ultimately ensure a sustainable economic resource pipeline for the State
- To encourage exploration drilling in greenfields areas that will test new geological ideas and models and/or drilling in regions covered by significant cover
- To stimulate exploration in greenfields areas and build a stronger relationship between government and industry, in order to fully realise the economic resource potential of the State
The program will fund 50%, 75%, or 100% of drilling metre-rate costs for individual projects, with a maximum of $200 000 awarded per project. The total government allocation for Cooperative Drilling will be $2 million in the 2016-2017 financial year.
Funding will be for direct costs of drill metre-rates as charged by the drilling contractor and described in drilling invoices, but excluding indirect costs such as mobilisation, travel, assays, drilling consumables and personnel. Drilling cost estimates should be GST exclusive.
Applications are encouraged from a wide range of exploration companies active in NSW. A prior funding relationship with the department is not required, but the applicant must be a legal entity to be eligible for funding. The applicant must hold an appropriate title in NSW to apply for a grant.
An expert advisory panel will assess each application. Applications will be favoured that propose drilling in frontier regions, or in areas where there is significant cover over the target. Applications will also be considered for drilling programs which test new geological concepts, whether in frontier regions or not.
Successful applicants must complete the project by 30th June 2017.
|Invitation to Apply||16 November 2015|
|Close of submissions||5:00pm AEST 29 April 2016|
|Review of applications by the Assessment Committee||May/June 2016|
|Announcement of successful applicants||August 2016|
|Completion of programs and full submission of reporting requirements||31 December 2017|
Only those applications received before 5:00pm AEST 29 April 2016 will be considered in this round.
Application Form, Guidelines & Draft Fund Deed
|Application form||144 KB|
(The Application should be read in conjunction with the Guide for Applicants)
|Draft Funding Deed|
(For Terms and Conditions under the program, review the draft Funding Deed)
|Draft Funding Deed||263 KB|