The Northern Territory Government is driving economic development and resource exploration with $3.7 million of Geophysics and Drilling Collaboration grants as part of the Resourcing the Territory initiative.
The record breaking grants are through round 16 of the program and will support 38 projects from 30 companies under the program, designed to fund mineral exploration, drive more mining development and create jobs for Territorians.
The funding will support a diverse range of innovative drilling programs and geophysical surveys across the Northern Territory, including in Barkly, Central Australia, the Tanami region, and Pine Creek region.
The number of projects receiving co-funding this year is the highest ever, and is more than double the long-term average of 15 projects co-funded per year.
28 of the projects are targeting current and emerging critical minerals, including lithium, copper, rare earths, nickel, and for the first time magnesium and graphite.
The remaining ten projects are targeting gold.
Resourcing the Territory is a $9.5 million program by the Territory Government, to help accelerate resources exploration and development in the Northern Territory.
Northern Territory Minister for Mining and Industry, Nicole Manison, said that the Resourcing the Territory program is the biggest investment by any Northern Territory Government into programs to attract and support resources exploration in the region.
“It’s exciting to see the majority of co-funded programs are targeting critical minerals that will be essential for supporting the energy transition and global decarbonisation,” Ms Manison said.
“These projects will help build the Territory’s critical minerals project pipeline to support the economy into the future, creating jobs, developing regional areas and improving essential infrastructure.”
Prodigy Gold Managing Director, Mark Edwards, said these sorts of programs significantly increase knowledge of the local and regional geology for projects and could fast track the next major mining discovery.
“Prodigy Gold is committed to exploration in the Northern Territory and particularly around the Tanami Region and greatly appreciates the good working relationship with the government, particularly the NT Geological Survey and the Department of Industry, Tourism and Trade,” Mr Edwards said.
