NT Budget falls flat with the Territory’s resources sector

THE industry sector touted to be the major contributor to a stronger Territory economy has expressed disappointment with the Chief Minister Michael Gunner’s first Territory budget as Treasurer.

THE industry sector touted to be the major contributor to a stronger Territory economy has expressed disappointment with the Chief Minister Michael Gunner’s first Territory budget as Treasurer.

Minerals Council of Australia NT director Drew Wagner said there was not much in the NT budget for the resources sector as a whole to be excited about.

Mr Wagner acknowledged the Chief Minister’s pledges to cut red tape and investment commitments to roads and transport.

“However there are 17 Territory projects right now that have either their final approvals or they are looking at the final investment decisions right now,” he said.

Minerals Council of Australia NT chief executive Drew Wagner. Picture: Supplied

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Mr Wagner said the projects represented a total capital expenditure of up to $10bn and thousands of real and lasting jobs.

“The NT government did not give any clear indication on the role it would be playing as an enabler in the resources sector to help give investors confidence,” he said.

“The Territory has some significant projects that right now are recognised as major projects at both a federal and Territory level.

“The are significant projects that will be there for generations – gold, lithium, rare earth projects, copper, and more.

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“The Territory needs to get these projects moving.

“It’s a sad fact that we have been talking about the same mines for the best part of eight years and it takes multiple years from exploration through to an operational mine.”