Federal Resource Minister Matt Canavan on Wednesday said that the Australian government would work with the resources industry to develop a new exploration incentive scheme to replace the current Exploration Development Incentive (EDI), which was dumped from the federal budget.
Speaking at the Association of Mining and Exploration Companies (AMEC) convention, in Perth, Canavan said that the EDI in its current form had failed to meet its objectives, and had not encouraged sufficient levels of greenfields exploration, or capital spend, to justify its continuation.
