The Australian Government has announced it will invest $100 million over 4 years to extend the Junior Minerals Exploration Incentive (JMEI) to the end of June 2025.
The JMEI incentivises investment in eligible companies, by allowing them to convert their tax losses into a tax credit that can be used to attract new investors.
The JMEI extension will contribute to resource sector investment, jobs and long-term security – by incentivising investment in junior exploration companies. Junior explorers’ lead the majority of greenfields exploration.
We need greenfields exploration to identify new, high-quality deposits across the 80% of Australia that remains underexplored.
Through critical greenfields exploration, our junior explorers will help discover the deposits that form the next generation of resource projects, underpinning Australia’s resources sector.
New, high-quality investment opportunities are key to:
- maintaining our position as an internationally competive resource investment destination
- securing the long-term future of the resources sector.
In the first 3 rounds of the JMEI, participants raised $342 million in additional capital, with $70 million in credits allocated through the JMEI.
This JMEI extension complements the existing suite of government support for greenfield exploration. Including the $225 million Exploring for the Future Program run by Geoscience Australia.
The $125 million second phase of the Exploring for the Future Program features eight projects that will unlock Australia’s potential for:
- mineral resources
- The Minister announced the JMEI program extension on 5 May 2021
- Find consultations on the JMEI program on our Consultation hub
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