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ARTICLE · 18 SEPTEMBER 2017

New tax incentive to boost minerals exploration

Clayton Utz
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The JMETC aims to encourage junior explorers to raise money for expensive (and risky) exploration in greenfield sites.

AustraliaEnergy and Natural Resources
Peter Feros
Peter Feros
Theodore Pasialis
Theodore Pasialis
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The Junior Mineral Exploration Tax Credit is aimed at making it easier for junior explorers to raise money for expensive, and invariably risky, exploration in greenfield sites.

On 2 September 2017, Malcolm Turnbull announced the new four-year $100m Junior Mineral Exploration Tax Credit (JMETC) regime aimed at promoting investment and driving economic activity in the exploratory mining industry and resources sector.

The new regime follows on from the Exploration Development Incentive (EDI) program (which is still accessible for the last financial year) and seeks to further incentivise investment in small exploration companies undertaking greenfields mineral exploration in Australia.

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