The Territory Labor Government has released the Mineral Development Taskforce Final Report, listing sustainable manufacturing as one of its top goals, along with the acceleration of mining development to unlock a pipeline of projects, which is a key part of achieving a $40 billion economy by 2030.
Minister for Mining and Industry Nicole Manison stated that the Mineral Development Taskforce has identified opportunities to harness sustainable downstream manufacturing and different royalty models that could make the Territory more competitive on a global scale.
“The Mining industry is the Northern Territory’s biggest contributor to the economy, and we can help tackle climate change by supplying the critical minerals the world needs,” the minister remarked.
Additionally, the taskforce’s final report outlines a series of recommendations and actions to drive and increase private investment in mining and other downstream value-add projects, the government revealed in a media release.
Also included are the implementation of targeted programs to promote increased exploration and mining activities as well as securing coordinated, transparent, and effective land access processes that respect landowners and recognise coexisting uses.
Other measures involve modernising the Territory’s royalties regime to make it more competitive and less of a barrier to investment capitalising on the potential for downstream mining value-add that is economically sustainable.
The government said it accepts the proposals in principle and will now consult with key stakeholders and businesses on the potential highlighted to strengthen the region’s investment.
Minister Manison emphasised that the Territory Government is sending a strong message to investors that the region is a “world-class destination for mining and we have the resources need for low emission technologies.”
“Growing mining will mean more well-paying jobs and royalties that will benefit all Territorians, through better services and infrastructure,” the minister concluded.
