The Lawler Labor Government is driving economic development in the Territory through the highly successful Resourcing the Territory (RTT) program.
A new round of grants under the RTT program has seen a record number of recipients share in a record $4 million to begin, progress and expand a range of early stage exploration and development works.
41 projects from 29 companies have received a share of $4 million from the Lawler Labor Government under the Geophysics and Drilling Collaboration grants. Seven of the record 29 companies are brand new to the Resourcing the Territory Program, signifying industry confidence in our growing resources sector.
Tivan Limited, a key proponent of the Middle Arm Precinct, has been awarded $129,000 across two projects. This funding will enable drilling and geophysical projects in the Aileron area of central Australia, where innovative exploration has already identified surface lead and silver mineralisation.
The Territory Government increased the annual funding for the Resourcing the Territory program to $9.5 million, encouraging new and expanded development in the Territory's resources sector.
This comes as industry confidence in the NT's resources sector reaches new heights, with Top End Energy becoming the newest company to advance exploration in the highly prospective McArthur Basin and Tamboran Resources being granted environmental approvals to construct up to four appraisal sites, drilling, and natural gas testing of up to 15 wells in the Beetaloo Sub-basin.
Mineral development is a huge driver of the Territory economy, the total value of the sector in the Northern Territory was $4.38 billion last year, with 5,300 working within the resources industry.
Quotes attributed to Minister for Mining, Mark Monaghan:
"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, and a recent report by Deloitte showed the first four years of this program significantly boosted investment in Territory Exploration.
"Industry confidence in our resources sector has never been so high, bringing with it interstate and global investment and new work opportunities for Territorians.
"The Lawler Labor Government is backing industries that get Territorians working, and back industries which grow our economy"
Quotes attributed to Executive Chair of Tivan, Grant Wilson:
"Tivan is delighted to have been awarded collaboration grants under the NT Government's Resourcing the Territory program. The Territory is significantly underexplored on a per square kilometre basis and highly prospective for many critical minerals that are required for the energy transition.
We are particularly pleased that our innovative work with EARTH AI at Sandover has been recognised. Digital exploration represents a step-change for the industry, both in terms of productivity and minimising impacts on country. We are looking forward to commencing the drill campaign at Sandover in Q3, with the support of Traditional Owners and Native Title Holders."
Northern Territory Government
