Up to $3m worth of exploration grants available in the Northern Territory

Applications are open round 17 of the Northern Territory Government’s Geophysics and Drilling Collaborations program with up to $3m in grants available to advance exploration.

The grants aim to address geoscientific knowledge gaps, advance exploration activity and support the discovery and development of resources in the Territory.

More than half of the $3m will be directed towards projects targeting commodities on the Northern Territory’s critical minerals list which has seen two new critical minerals added — gallium and graphite.

A silver-white metal, gallium has multiple uses, including in integrated circuits, lasers and LEDs. This new critical mineral was recently identified in newly discovered rare earth and graphite deposits in the Northern Territory.

Graphite also has a multitude of uses, however, is one of the few key critical minerals used to create batteries for electric vehicles and stationary energy storage systems. As a result, graphite will be a building block for the Territory’s transition to a net-zero future.

This follows mineral exploration spending in the Northern Territory reaching a record $7.4m in the September 2023 quarter, up 30% from the previous year.

The total value of mineral production in the Territory was $4.86b last year, with 4400 people employed within the industry.

Northern Territory Mining Minister Mark Monaghan commented on the program and the Territory’s critical minerals.

“It is clear that the demand for critical minerals is driving this growth in exploration, and as it stands over 4400 Territorians work within the minerals industry,” he said.

“The Northern Territory is standing at the helm of a global critical minerals surge, and we have the opportunity to become a leading supplier for the world’s renewable energy transition.

“Of the world’s critical minerals, the Northern Territory now has mineral resources for 17 — up from 15, with high potential for a further 12.”