19 mining projects working towards Final Investment Decision in NT: combined value $5.8 billion

Mining and Industry Minister Nicole Manison said there were currently 19 mining projects working towards a Final Investment Decision in the NT.

MINING and Industry Minister Nicole Manison said there were currently 19 mining projects working towards a Final Investment Decision (FID) in the Northern Territory.

The projects have a combined value of $5.8 billion and potential to create 5500 construction jobs and 3200 ongoing jobs. And Ms Manison said the NT government expected this figure to grow further through its Resourcing the Territory Initiative.

Ms Manison said the initiative was specifically designed to fund mineral exploration, drive more mining development and create more jobs across the Territory. She said a record number of applications in the latest round of Geophysics and Drilling Collaborations grants was a further demonstration of the high level of investment interest in the Territory resource sector.

MORE TOP NEWS

‘We have listened’: Blake St tower developer includes peacock coop

Commission recommends new grog laws for Barkly to reduce harm

VOTE HERE: Your Top 10 ‘big ideas’ to transform the Territory

A record number of applications were received in round 14, with 38 applications from 26 companies submitted.

The Territory government has awarded $1.7 million in grants to support 18 projects from 15 companies under the latest Geophysics and Drilling Collaboration program.

The Geophysics and Drilling Collaborations Program is a grant opportunity for exploratory drilling and geophysics in areas of the NT that have not yet been explored. The projects that have been awarded funding are targeting a wide range of commodities including gold, copper, tungsten, nickel, natural gas, hydrogen and helium.

The successful applicants are Inca Minerals Ltd, Knox Resources Ltd, Central Petroleum Ltd, Barkly Operations Pty Ltd, Strategic Energy Resources Ltd, King River Resources Ltd, IGO Ltd, Newcrest Mining Ltd, iCopper Pty Ltd, Core Lithium Ltd, Prodigy Gold NL, Redbank Operations PL, Bacchus Resources Pty Ltd, Molyhil Mining Pty Ltd and Vista Gold Australia Pty Ltd.

“The Resourcing the Territory initiative is the biggest investment by any Territory government into programs to attract and support resources exploration in the Territory,” Ms Manison said.

“Our resources industry is one of the biggest contributors to the NT economy, and our strong future in mining will play a huge role in making the Territory the comeback capital of Australia.”

The NT government is increasing its annual funding to Resourcing the Territory from $6.5 million to $9.5 million from July 1, 2022 – with the funding to be ongoing.