A new research centre has been established to help reduce the cost of mineral exploration in Australia in order to boost output.
Replacing the Deep Exploration Technologies CRC, the newly established MinEx Cooperative Research Centre will begin operating in July at the University of South Australia and in Western Australia.
Chief Scientific Officer for the MinEx CRC and John Ralston Chair in Minerals and Resources Engineering at UniSA’s Future Industries Institute, Professor David Giles, said his objective is to enhance the efficiency of minerals exploration nationally.
“In the Australian context, the cost of exploration for new deposits has risen over the past 30 years and our success rate has declined,” Prof Giles said.
“We need to improve our performance if mineral resources are to continue their significant contribution to the Australian economy. Mineral resources contributed about 50 per cent of Australia’s exports and about 10 per cent of our GDP in 2015-16.”
“Our efforts at the CRC will focus on developing safer, more productive, and more environmentally friendly drilling methods and technologies, to discover new minerals deposits and support the long-term future of the industry.”
Australia Bureau of Statistics data shows exploration success in Australia has declined over the last nine years with the cost of exploration per metre drilled increasing from $89/m in 1997 to $207/m in 2017.
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