Matthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

The well I was commenting on or talking about in those first two questions is being funded. It's a $5 million exploratory well. It's being funded through our $100 million Exploring for the Future program. That program is all about trying to find new resources for Australia.

The first major mineral find in Australia was 1859. It was found by a wombat basically, or a stockman saw a wombat kicking up some rocks. They looked a bit green. It ended up being copper. And that's pretty much how every resource has been found in this country since—not so much with a wombat but with finding rocks and drilling from there. Our Exploring for the Future program is all about looking below the surface, using seismic testing, aeromagnetic testing, to look below the surface to make new minerals finds where there's no surface mineralisation. In fact, we're doing the world's largest aeromagnetic survey right now across Western Australia and the Northern Territory. That's due to be completed soon under this program. There have already been major finds as part of this program and companies are starting to invest on the back of it. It's a great initiative to help build jobs and economic opportunity in Australia.