Applicants For Resourcing The Territory Initiative Announced By Minister

Applicants For Resourcing The Territory Initiative Announced By Minister

Northern Territory Minister for Primary Industry and Resources Ken Vowles

Growing Our Resources Sector To Create Jobs

Victor P Taffa

A record number of applications have been received for the Northern Territory Government’s Geophysics and Drilling Collaboration program as part of its $26 Million Resourcing the Territory initiative.

Minister for Primary Industry and Resources, Ken Vowles, said changes to the program this year to encourage more exploration and create more jobs had proven popular with the industry.

“This government is investing $26 Million in Resourcing the Territory over the next four years.” Minister Vowles said.

“This is the biggest investment by any Territory government into programs to attract and support resources exploration.”

“This investment in our future will provide new geoscience data that will lead to the discovery of future resources projects, projects that will create jobs for Territorians.”

More than $1.27 Million from this round will fund 15 projects from 12 different companies.

“Improvements to the Geophysics and Drilling Collaboration program were made based on feedback from explorers.” Minister Vowles said.

“They include 33 % more funding overall, an increase in funding for diamond drilling programs from $100,000 to $125,000 per project, and up to $10,000 per project in additional funding to support service and supply by Territory-based companies.”

“These projects will create jobs in remote areas across the Territory and will target commodities such as gold, zinc, copper, nickel and cobalt.” Minister Vowles said.

Successful applicants are:

  • Prodigy Gold, Marindi Metals,
  • MMG Exploration,
  • Todd River Resources,
  • Walhallow Creek,
  • Vista Gold,
  • PNX Metals,
  • Red Metal,
  • Independence Group,
  • Gempart,
  • Lagoon Creek Resources,
  • Northern Cobalt.

“An independent review into programs such as Resourcing the Territory found they lead to an increased share of national exploration expenditure and that every dollar invested by government results in a $10 return in exploration activity and investment.” Minister Vowles said.

“These 15 projects could lead to discoveries that will bring jobs and opportunities for businesses and communities in the exploration and mining sector.”