Confidence in NT Resources Sector Soars
A new round of grants under the Resourcing the Territory program has seen a record number of recipients share in a record $4 million dollars 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 Northern Territory 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.
Executive Chair of Tivan, Grant Wilson, said they were particularly pleased that their innovative work with EARTH AI at its Central Australian Sandover field 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,' he said.
The Northern 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.
For more information about the Resourcing the Territory program visit the Resourcing the Territory website.