The McGowan Government has committed an additional $6 million for the Minerals Research Institute of Western Australia (MRIWA) over the next four years until 2024-25.
These funds will be used to further stimulate minerals research to support investment in, and operation of, WA’s globally competitive minerals industry.
The extra $6 million in revenue for the next four years has been generated from the increase in Mining Tenement Rentals.
MRIWA has grown the value of its research portfolio from $37.3 million, in June 2018, to $86.7 million as at June 30, 2021 through prioritising high value research proposals.
Additionally, in the 2021-22 State Budget, the McGowan Government committed $1 million to fund research into the viability of sustainably processing Western Australian iron ore to create green steel.
A previous economic report by ACIL Allen found each $1 million invested by Government for minerals research resulted in at least $3.12 million in direct benefits to the State.
As stated by Mines and Petroleum Minister Bill Johnston:
“The McGowan Government is committed to supporting Western Australia’s mining industry, which is why we’ve increased funding for the Minerals Research Institute of WA by $6 million over the next four years.
“This additional funding will enable MRIWA to continue its open grant program and increase investment activities to strengthen our State’s mining sector.
“Exploration spending in WA is at a nine-year high so it’s more important than ever that we use this opportunity to invest in minerals research to future-proof our State.”
