Northern Territory Boosts Resource Exploration with New Funding Program
The Northern Territory Government has announced significant new funding to accelerate mineral exploration across the region. This initiative aims to stimulate economic growth, support local jobs, and strengthen the mining sector’s contribution to the Territory’s economy.
38 Grants Awarded to 30 Companies in Geophysics and Drilling Collaborations Program
Through round 18 of the Geophysics and Drilling Collaborations (GDC) program, the government will provide 38 grants to 30 exploration companies. This funding is part of the broader Resourcing the Territory initiative designed to fast-track mineral discoveries and encourage investment within the Northern Territory.
Mining: A Key Economic Driver for the Northern Territory
The mining sector remains the largest contributor to the Territory’s self-sourced revenue, supported by eight active mining operations and ongoing mineral exploration. The government aims to strengthen this sector further through responsible resource development and innovation.
Government Commitment to Rebuilding the Economy through Exploration
Northern Territory Mining and Energy Minister Gerard Maley emphasised the government’s dedication to fostering economic recovery. He said,
“This flagship program gives companies a clear incentive to invest in exploration here in the Territory, rather than interstate. 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.”
Diverse Range of Projects Funded under the GDC Program
Successful applicants include a variety of exploration projects:
- 14 greenfields drilling programs
- 6 brownfields diamond drilling projects
- 10 regional geophysical surveys
- 7 innovative targeting projects
- 1 project focused on advancing critical minerals
More than half of the co-funded projects target critical minerals such as copper, rare earth elements, lithium, and fluorite, which are essential to the global energy transition.
Focus on Critical Minerals to Support Global Energy Transition
Minister Maley highlighted the importance of this focus:
“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. These projects will help build the territory’s critical minerals pipeline, support local jobs and drive long-term economic growth.”
Support for Local Contractors through Territory Supplier Incentive
Nine projects will engage locally based contractors, benefiting from approximately $88,900 in Territory Supplier Incentive (TSI) funding. The TSI provides up to $10,000 per project to promote the involvement of local service and supply companies in exploration activities.
Key Commodities Targeted: Copper Leads the Way
Copper remains the most commonly targeted commodity, appearing in about one-third of the successful applications. Other key minerals include gold, uranium, diamonds, and hydrocarbons, reflecting the Northern Territory’s diverse resource potential.