Funding, Government announcements, News

Northern Territory funds critical minerals drilling

The Northern Territory Government has awarded $3.7 million in grants to fund mineral exploration in the Territory.

The grants were awarded under the Resourcing the Territory initiative and will support 38 projects from 30 companies.

A total of 28 projects will target current and emerging critical minerals, including lithium, copper, rare earths, nickel, magnesium and graphite. The remaining 10 projects will target gold.

It is hoped that the grants will drive more mining development and create more local jobs.

“The Resourcing the Territory program is the biggest investment by any Northern Territory Government into programs to attract and support resources exploration in our region,” Minister for Mining and Industry Nicole Manison said.

“It’s exciting to see the majority of co-funded programs are targeting critical minerals that will be essential for supporting the energy transition and global decarbonisation.

“These projects will help build the Territory’s critical minerals project pipeline to support the economy into the future, creating jobs, developing regional areas and improving essential infrastructure.”

The number of projects to receive funding is the highest ever for the Territory, more than double the long-term average of 15 projects usually funded per year.

“These sorts of programs significantly increase our knowledge of the local and regional geology of our projects and could fast track the next major mining discovery,” Prodigy Gold managing director Mark Edwards said.

“Prodigy Gold is committed to exploration in the Northern Territory and particularly around the Tanami Region and greatly appreciates the good working relationship with the government, particularly the NT Geological Survey and the Department of Industry, Tourism and Trade.

“We are looking forward to continue working with the government as we advance the programs through 2023.”

Send this to a friend