The Finocchiaro CLP Government is committed to rebuilding the economy through the Territory's world-class resources sector, by today announcing the opening of its highly competitive Geophysics and Drilling Collaborations (GDC) grant program.
Round 18 of the program will provide up to $3 million to co-fund projects that address geoscientific knowledge gaps, advance exploration activity, and support the discovery and development of resources across the Territory.
Minister for Mining and Energy Gerard Maley said: "The NT Government is backing our resources sector because we know this is what will underpin our economy, creating opportunities for businesses and for local jobs across the Territory."
"This investment in our exploration sector is instrumental for our economy, and with the potential for Territory's critical minerals set to increase, a minimum of $2 million of this funding will be directed into projects targeting critical minerals," said Mr Maley.
The GDC program awards co-funding of up to 50 percent of the cost of drilling (both greenfields and brownfields), regional scale geophysical surveys, innovative exploration targeting and advancing critical minerals projects.
This year includes an increase in the capped amount of co-funding for regional-scale geophysics from $100,000 to $150,000.
Recent co-funded drilling projects have contributed to the discovery of new critical minerals resources at the Leliyn project near Pine Creek (graphite), and in the Barkly (rare earths, vanadium, gallium).
To further support local business, a Territory Supplier Incentive has been introduced that offers additional funding to engage NT enterprises, which must be spent on local service and supply directly supporting the co-funded program.
