The Association of Mining and Exploration Companies (AMEC) is in support of an extension to the Junior Minerals Exploration Incentive (JMEI) that will provide a $100 million commitment over a four year period in Western Australia.
Federal Opposition Liberal Leader Angus Taylor reconfirmed the Liberal Party’s commitment to extend the life of the JMEI if in office.
AMEC is urging the existing Federal Government to match Liberal’s support and provide “long-term certainty” for Australia’s exploration sector.
AMEC Acting CEO Neil van Drunen says initiatives such as the JMEI are “essential to ensuring the next generation of discoveries”.
“Exploration is the lifeblood of Australia’s mining industry,” van Drunen says.
“The opposition’s commitment reinforces the critical role the JMEI plays in supporting early-stage exploration and attracting investment into Australia’s resources sector.
“The JMEI has a proven track record of unlocking private investment into greenfields exploration, particularly for junior explorers who are responsible for the majority of new discoveries in Australia.”
BDO Australia uncovered the value of the JMEI program across 2017-2024 from a total expenditure of $200 million, returning $1.2 billion in capital raised, $404 million in exploration expenditure, $5.9 billion in mineral production, $391 million in government revenue, and $769 million in gross domestic product.
Every $1 spent on the JMEI has returned $6.38 in capital raising and $2.41 in exploration activity.
AMEC has consistently called for an extension and expansion to the initiative to strengthen the company’s global exploration competitiveness. AMEC says the $50 million projected towards oil and gas would be better served for critical minerals.
“Programs like the JMEI play a critical role in ensuring we continue to discover and develop the resources that underpin Australia’s resilience,” van Drunen says.
“Regardless of commodity focus, the JMEI is about driving investment into exploration, and that remains vital to Australia’s long-term prosperity.”
Write to Maddison Elliott at Mining.com.au
Images: AMEC
