Funding, Government announcements, News

Northern Territory mining industry worth billions

The Northern Territory Government has announced its mining and resource industry is worth $6.2 billion, and will be key to reaching its $40 billion economic target.

The industry was bolstered from an expenditure of $74.4 million in mineral exploration for the September quarter of 2023.

“Having a strong and diversified economy means that we will have the revenue to enable investment back into Territory priorities and essential services such as secure energy supply, health, education, housing, and infrastructure,” NT Chief Minister Eva Lawler said.

“The Territory Government is sending a loud and clear message to investors that we are a world class destination for mining and we have the resources needed for low emission technologies.”

In a bid to attract further investment in the sector, the Territory Government is releasing a fully updated guide to Critical Minerals in the Northern Territory, outlining the Territory’s critical minerals that the world needs.

As part of this update, the critical minerals list has increased from 15 to 17, with gallium and graphite added to the list following recent discoveries of these minerals in the Territory.

A Territory-wide Social Licence campaign will also be implemented to reinforce the rigour of the Territory’s regulatory environment.

“The NT Government has an important role to build trust in the regulator to meet our responsibilities to do right by Territorians,” NT Minister for Mining Mark Monaghan said.

“We must also continue to work with industry to keep Territorians informed about the role mining and resources has in the Territory and in their lives.”

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