The 15th NT Resources Week kicks off in Darwin, bringing together major players in the resources sector to the Northern Territory.
The event brings together the South East Asia Australia Offshore and Onshore Conference (SEAAOC), the Mining the Territory conference, and the Environmental Management and Decarbonisation Forum.
According to the Northern Territory Government, it is an opportunity to showcase the Territory as a world-class mining destination, offering resources for low-emission technologies.
“The mining and resource industry plays a vital role in the Northern Territory, and it will continue to play one as we head towards a renewable energy and net zero emission future,” Minister for Mining and Industry Nicole Manison said.
The Territory’s resource sector is worth over $6.2 billion and is one of the leading job generators, employing approximately 5,300 people directly.
Additionally, the Territory Government said the industry supports small businesses across all regions and annually delivers millions in resource royalty to schools and hospitals.
“The Northern Territory is bucking the national trend in mineral exploration expenditure and setting records, driven by demand for our critical minerals,” Minister Manison stated.
The Northern Territory’s mineral exploration expenditure reached its highest level since 2011/12, reaching $200.1 million in fiscal 2022/23, an increase of 17%, surpassing the national increase of 7%.
According to the Australian Bureau of Statistics, critical minerals expenditure is leading the way, growing 33% in 2022/23 to $88.6 million, accounting for 44% of all mineral exploration in the Territory.
Exploration for other minerals critical to the energy transition, such as copper and uranium, has also surged.
The Northern Territory is home to 15 internationally identified critical minerals, with geological potential for an additional 13 emerging critical minerals.
“As the world transitions to renewable energy the demand for the Northern Territory’s resources will grow, we will be global leaders in the critical minerals supply chain – boosting our economy and creating thousands of jobs,” Minister Manison said.
