Encouraging exploration

• minimising investment risk in greenfield exploration in NSW
• promoting exploration in unexplored areas of NSW
• identifying new critical minerals resources in NSW 

Why a focus

Exploration provides the state with an accurate assessment of its mineral reserves and provides industry with essential precompetitive data, helping to attract investment in new mining projects and to diversify NSW supply chains.

Given the geologically complex environments in which critical minerals are found, exploring for these minerals can be challenging, making it risky for investors. The NSW Government is committed to providing support for exploration by providing pre-competitive geological data to minimise investment risk for exploration.

What we heard

Through our consultation, we learned that government support through pre-competitive data and dedicated exploration programs provides significant value for explorers looking to identify new targets. This support helps reduce the risks associated with the initial stages of exploration, making NSW a more attractive environment for investment in exploration activities.

What we will do

• Co-invest in exploration to attract investment in underexplored areas, support the testing of geological ideas, and expand efforts to include geochemistry, exploration drilling and geophysics.
• Deliver a targeted pre-competitive data acquisition program to encourage investment in exploration at depth.
• Leverage NSW’s significant geological dataset to scale and prove innovative data interpretation techniques