The Minister for Industry, the Hon Ian Macfarlane MP, and the Assistant Treasurer, Senator the Hon Arthur Sinodinos AO, have released for consultation the discussion paper Exploration Development Incentive: Policy Design.
This follows the Government’s election commitment to introduce an Exploration Development Incentive, which will provide incentives for greenfields minerals exploration activity, with a focus on the small exploration sector.
The paper outlines and seeks feedback on possible implementation arrangements for the Exploration Development Incentive. The paper canvasses:
- options for targeting junior mineral explorers;
- which investors will be able to receive exploration credits;
- how ‘eligible expenditure’ and ‘greenfields’ could be defined;
- options for capping the cost of the scheme; and
- how the exploration credit system will work.