The Northern Territory Government has released a new round of grants totalling $4 million under its Resourcing the Territory (RTT) program.
A record number of recipients will share in the grants, which are awarded for companies to begin, progress and expand a range of early-stage exploration and development works.
41 projects from 29 companies have received Geophysics and Drilling Collaboration grants from the Northern Territory Government. Seven of the 29 companies are new to the RTT program, signifying industry confidence in the growing resources sector.
Tivan Limited, a key proponent of the Middle Arm Precinct, has been awarded $129,000 across two projects. This funding is designed to enable drilling and geophysical projects in the Aileron area of central Australia, where exploration has already identified surface lead and silver mineralisation.
The Northern Territory Government increased the annual funding for the RTT program to $9.5 million, designed to encourage new and expanded development in the Territory’s resources sector.
The move comes as industry confidence in the Northern Territory’s resources sector reaches new highs, with Top End Energy becoming the newest company to advance exploration in the highly prospective McArthur Basin.
Tamboran Resources has also received environmental approvals to construct up to four appraisal sites for 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, with the total value of the sector in the Northern Territory reaching $4.38 billion in 2023 and 5,300 employees working in the industry.
Northern Territory Minister for Mining, Mark Monaghan, said, “The RTT 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 Northern Territory Government is backing industries that get Territorians working, and back industries which grow our economy,” Mr Monaghan said.
Tivan Executive Chair, Grant Wilson, said, “Tivan is delighted to have been awarded collaboration grants under the Northern Territory 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.”
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