NT mining production accounts for $4.4bn, down 11 per cent on 2018-19
THE COVID-19 pandemic has not stopped the Territory from generating significant mineral production. CLICK TO SEE HOW MUCH
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THE Northern Territory has generated $4.4bn in mineral production during the last financial year, despite COVID-19 wreaking havoc on the global economy.
The result, to be revealed today by the NT Government, will show that the resource sector suffered an 11 per cent drop in resource production in 2019-20 compared to the year before, when the Territory reaped a record $4.9bn.
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But the results are still the third-best year in NT production ever, with Deputy Chief Minister Nicole Manison pointing to a major spend by miners in exploration of new potential deposits.
Miners spent $123m on exploration, the second highest ever, with predictions that the 2020-2021 financial year will post a similar number off the back of a quicker-than-expected coronavirus recovery.
Ms Manison said the result made the NT’s resource sector the envy of the world.
“These are extremely positive results for the Territory mining sector, and with the Territory on the path to being the comeback capital of Australia – we can expect even stronger results next year,” she said.
“Mining is a huge job creator in the Territory, employing over 4400 people directly – and with a number of projects in the pipeline we can only expect this number to boom.”
Ms Manison said the ability for miners to continue operating safely through the worst of the pandemic helped stave off more dire economic circumstances for the NT.
“We acted swiftly to keep Territory’s mines operating in a safe way through the COVID-19 pandemic – because we know the ongoing strength of our mining industry has a key role in sustaining and growing the Territory’s economy,” she said.
Manganese made up the biggest chunk of the NT’s production, contributing $1.61bn to the total.
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Mineral Council of Australia NT executive director Drew Wagner said the year had been encouraging given the “extraordinary set of circumstances”.
However, Mr Wagner said the Northern Territory Government needed to speed up the approval and assessment of new mines.
Originally published as NT mining production accounts for $4.4bn, down 11 per cent on 2018-19