Mining in the Northern Territory
The Northern Territory’s mining sector is looking stronger, with a string of new mine openings, rising exploration and improved commodity prices signalling renewed confidence.
MINING in the Northern Territory is experiencing a revival, but as the State Government spruiks the sector, industry figures are offering more cautious optimism.
In the past month, the Government has announced a surge in mineral exploration expenditure and record-breaking mineral production for the Territory.
In September, Northern Territory Primary Industry and Resources minister Ken Vowles told the Mining in the Territory conference that there were a number of new mining projects across the Territory actively and successfully progressing through the approvals process and seven mining projects with major project status.
He said the seven mines with major project status, including five proposed mines in central Australia, had the potential to deliver up to $5.7 billion in capital expenditure, 3000 jobs during construction and 2000 jobs during operations.
Northern Territory Chamber of Commerce chief executive Greg Bicknell said while the news was welcome, he still harboured some concerns.
“I think realistically people have heard of a lot of these projects for quite some time and while they welcome the news of the exploration, we’ve had plenty of exploration before,” Mr Bicknell said.
“Actually seeing those projects come to fruition is really something that people have been disappointed on before, so the expectations can’t be raised unduly until the projects are more progressed.”