JOHANNESBURG (miningweekly.com) – A partnership between resources companies and the Northern Territory government would unlock the region’s mineral wealth and create the next wave of mining jobs, asserted Northern Territory Mines and Energy Minister David Tollner on Thursday.
He said that grants totalling A$850 000 were to be paid to nine companies to carry out ten minerals exploration projects across the Northern Territory.
The geophysical survey and drilling projects would test new areas for gold, base metals, uranium, manganese, zinc and petroleum.
The companies receiving funding under round eight of the Geophysics and Drilling Collaboration programme are Emmerson Resources, Cameco Australia, Areva Resources, Core Exploration, Rockland Resources, Pacifico Minerals, Teck Australia, MMG Exploration and Tom Oates.
The programme provides funding for 50% of the cost of drilling and geophysical programmes in areas of the Northern Territory where there is a lack of geological information. However, grants are capped at A$100 000.
The programme forms part of the Northern Territory government’s Creating Opportunities for Resource Exploration initiative and is managed by the Northern Territory Geological Survey.
All data gained from the programme is released to the public six months after the completion of fieldwork to ensure the results are shared with all explorers to encourage further exploration.
“Some sectors of the resources industry are currently facing challenges, but it is still a major employer of Territorians and will be one of the long-term drivers of our future prosperity,” Tollner stated.
He added that these grants would provide companies an incentive to “get out there” and discover what resources the Northern Territory possessed.
“Exploration is crucial to develop the deposits that will underpin the North Territory’s future economy,” Tollner emphasised.
The Northern Territory had some of Australia's largest deposits of zinc/lead, bauxite, gold, phosphate and manganese, as well as significant deposits of iron-ore, rare earths, tungsten, mineral sands, potash, oil and gas.