News

Western Australia provides 2 geothermal projects exploration funds

Esperance, West Australia (source: creative commons, flickr/donpugh)
Alexander Richter 2 Jun 2010

Two geothermal projects will receive some co-funding for exploration as part of a cross-sector exploration incentives scheme in Western Australia.

As part of an exploration incentive scheme of AU$5.3million (US$4.4million), two geothermal projects will receive some co-funding for exploration activities in Western Australia.

“A pool of $5.3 million will be shared among 62 resources projects under the Western Australian government’s 2010/11 Exploration Incentive Scheme.

The scheme is part of the Royalties for Regions program spearheaded by WA Nationals leader Brendan Grylls. Gold featured in 45 of 90 applications.

Furthermore, 31 projects that will receive co-funding listed gold as the main or one of the commodities sought, Minister for Mines and Petroleum Norman Moore said in a statement on Tuesday.

Mr Moore said two geothermal projects will receive co-funding.

“There were also successful applications for a coal and an onshore oil and natural gas project,” he said.

Under the scheme’s Co-funded Industry Drilling Program, three projects each received $200,000 in co-funding.

The program is restricted to single deep exploration drill holes in underexplored greenfield or frontier areas.”

Source: The Sydney Morning Herald