Funding for drilling exploration Cooperative Research Centre

Federal Innovation Minister Kim Carr has announced a $28 million grant to boost research into mineral exploration drilling techniques.

Federal Innovation Minister Kim Carr announced a $28 million grant on Friday aimed at boosting research into faster, deeper mineral exploration drilling techniques.

The funding is part of larger $243 million investment into Cooperative Research Centres (CRC), AAP reports.

The Government has set up Deep Exploration CRC to counter the low rate of success in mineral exploration and rising production costs.

According to Senator Carr, the researchers will examine deeper drilling techniques across the “vast areas of Australia that are known to be prospective for minerals.”

“The research undertaken by these CRC’s will deliver significant social, environmental and economic benefits to Australia,” he said.

The funding also included $17.5 million towards a new CRC to investigate the viability of gas pipelines.

According to the Government, this will is a boost to carbon emission research, as gas is a cleaner form of energy than coal.

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