The Tasmanian Liberal Government has opened a new round of Exploration Drilling Grant Initiative (EDGI).
Minister for Business, Industry and Resources, Eric Abetz, said Tasmania has what the world wants.
"Critical minerals are a sought-after commodity as governments, businesses and organisations across the globe look to a more sustainable future," Minister Abetz said.
"There is a global shift to find these minerals and Tasmania can continue to further cement itself as a leader in this space.
"This funding will allow mineral explorers to test greenfield locations which may lead to our next big mineral discovery.
"We know exploration leads to more resources projects and more jobs in the future for Tasmanians – something we're eager to support through our 2030 Strong Plan for Tasmania's Future.
"Now in its eighth year, the grants program supports industry and investors to find new and potentially lucrative mining opportunities as well as the re-examination of old mines."
Mr Abetz said the program had helped mineral exploration in Tasmania reach, and maintain, its highest levels on record.
"The recent discovery of high-grade tin and base metal mineralisation at North Scamander and in an EDGI drill hole at Luina by Elementos, highlighting the continued importance of this program," Minister Abetz said.
"Successes like these can lead to the development of new mines that are required to sustain and grow the Tasmanian economy while facilitating de-carbonisation.
"The mineral resources sector remains Tasmania's top export earner, contributing more than $2.8 billion a year in exports while supporting more than 7,200 jobs.
"In 2023-24, $52.2 million in royalties were generated, meaning in the last five years royalty payments have totalled $283 million with an additional $10 million from rentals and fees."
Applications close on Thursday, March 27 2025 with successful applications expected to be announced in mid-May.
