The Association of Mining and Exploration Companies (Amec) has called on the state and federal governments to implement a moratorium on tenement rentals and associated expenditure requirements for mineral exploration licenses.
“The human impact of Covid-19 and the safety of those in our industry is the number one priority for Amec and its members,” said Amec CEO Warren Pearce.
However, small Australian mineral exploration companies were already finding it difficult to raise funds in increasingly difficult financial markets, and with the Covid-19 crisis, they would now have little, to no, opportunity for capital raising over the next six months.