Minns Labor Government Invests in Rare Earths and Copper Exploration
The Minns Labor Government is investing millions of dollars to support the exploration of rare earths and copper in NSW, aiming to meet surging global demand.
The NSW Government has announced grants to facilitate around $5 million of funding for 29 exploration projects, focusing on drilling, geophysics, and geochemistry exploration.
- The Critical Minerals and High Tech Metals Exploration Program will provide almost $2.5 million in co-investment funding to the 29 projects.
- Explorers must match the funding to receive it.
By partnering with the mining industry to pursue exploration, we can help discover more deposits of the critical minerals needed to manufacture modern technologies, including electric vehicles, mobile phones, and solar panels.
Global demand for copper is rising rapidly, with prices climbing more than 20% this year.
Author's summary: NSW invests in rare earths and copper exploration to meet global demand.