EIS expansion and vanadium royalty cap signal support for new projects
The Western Australian government has doubled funding for the Exploration Incentive Scheme (EIS) to A$18-million, with the latest round opening this week.
Royalties for vanadium products have also been capped at 2.5% – and 0% for the midstream production of vanadium electrolyte – in another boost for the Western Australian resources sector.
Chamber of Minerals and Energy WA CEO Aaron Morey said the long-running EIS – now into its thirty-third round – played a critical role in funding the discovery of new mineral deposits.
“Most exploration is undertaken by junior and midtier companies who have limited capital at their disposal but play an essential role maintaining WA’s pipeline of resources projects and the jobs they support,” Morey said.
“The expansion of the EIS will allow more projects to access funding and help accelerate efforts to identify the mines of the future.”
Morey said reduced vanadium royalty rates – a 2025 election commitment – would support the production of a commodity that offered domestic value-adding potential.
“Vanadium is an increasingly important input into battery technology and WA has some of the world’s largest known reserves,” Morey said.
“Competitive royalty settings are vital to develop what is an emerging industry that offers an exciting opportunity for both upstream mining and the midstream processing of vanadium electrolyte.”
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