Australian Prime Minister Anthony Albanese has announced an investment of A$566-million over the next decade to bolster geoscientific research across the nation.
The Geoscience Australia-led initiative, welcomed by industry bodies such as the Minerals Council of Australia (MCA) and the Association of Mining and Exploration Companies (Amec), aims to unlock the vast potential of Australia’s untapped geological resources.
At the heart of the initiative is an ambition to create a comprehensive map of Australia’s subsurface and seabed resources. With more than 80% of the continent remaining underexplored, particularly at greater depths, the mapping project promised to unveil new opportunities for minerals development, particularly in remote and underexplored areas.
Enabling public access to a rich set of nationally consistent pre-competitive data would offer a detailed investment prospectus for mining companies to take Australia seriously as an investment destination, said MCA CEO Tania Constable.
