NT exploration gets $4m funding
The Northern Territory Government has announced new funds to support resource exploration within the territory.
The funding will award 38 grants to 30 companies through round 18 of the Geophysics and Drilling Collaborations (GDC) program.
The program is part of the Resourcing the Territory initiative, which accelerates exploration, discovery and local jobs.
The mining sector is the most significant contributor to the territory’s self-sourced revenue, supported by eight mining operations and mineral exploration.
Northern Territory Mining and Energy Minister Gerard Maley says the grants demonstrate the Northern Territory Government’s strong commitment to rebuilding the economy through responsible resource development.
“This flagship program gives companies a clear incentive to invest in exploration here in the Territory, rather than interstate,” he said.
“It also rewards those willing to innovate and test new techniques to unlock the territory’s vast mineral potential and bring forward the next wave of discoveries.”
Amongst the successful applicants are:
- 14 greenfields drilling programs
- Six brownfields diamond drilling programs
- 10 regional geophysical surveys
- Seven innovative targeting projects
- One project under the advancing critical minerals category
More than half of the co-funded projects are targeting critical minerals, including copper, rare earth elements, lithium and fluorite.
“It’s encouraging to see the majority of these co-funded programs focusing on the critical minerals that are essential to the global energy transition,” Mr Maley said.
“These projects will help build the territory’s critical minerals pipeline, support local jobs and drive long-term economic growth.”
Nine of the projects will provide work for locally based contractors with about $88,900 awarded for the Territory Supplier Incentive (TSI) funding.
The TSI provides up to $10,000 per project in additional funding to support service and supply by local companies.
Copper is the most commonly targeted commodity, featuring in about a third of successful applications, and gold, uranium, diamonds and hydrocarbons were also prominent.