Queensland Opens Applications for Ninth Round of Collaborative Exploration Initiative

Queensland has opened applications for the ninth round of its Collaborative Exploration Initiative (CEI).

A total of AU$5 million in funding has been allotted to support exploration companies looking for new critical minerals deposits in the state. Each explorer can apply for maximum funding of AU$250,000.

According to a September 25 press release, priority will be given to those focused on critical minerals that are needed for clean energy innovations, such as solar panels, wind turbines and electric vehicle batteries.

“The mineral exploration projects of today have the potential to become the major mining projects of the future, which is why these funding initiatives are crucial,” said Scott Stewart, minister for resources and critical minerals.

He added that this investment helps position Queensland as “a global leader in supplying the essential resources needed for the renewable energy revolution” and "a powerhouse in the global clean energy future.”

The CEI was launched in 2017, with funding initially set at AU$3.6 million. The initiative has proven successful since, with companies like privately held Graphinex among the recipients.

Graphinex was able to discover a graphite orebody at the Esmeralda graphite project.

The Queensland government notes that the CEI builds on the state's AU$315 million Critical Minerals Strategy, as well as the AU$6.2 billion CopperString project, which is “designed to unlock mineral wealth in Queensland.”

The eighth round of the initiative is ongoing, with final reports and data set to come out on June 16, 2025.

Companies hoping to participate in round nine have until December 11, 2024, to apply, and can do so online.

Funding deeds between applicants and the government are scheduled for execution on April 1, 2025.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.