The Northern Territory Government has opened applications for the Geophysics and Drilling Collaborations program.
During the 2023–24 year, the program will award $3 million in grants designed to encourage and assist exploration activity in the NT.
The grants are a part of the Resourcing the Territory program and will aim to address geoscientific knowledge gaps, advance exploration activity and support the discovery of resources.
In an effort to support a wider range of exploration activities, the scope of activities that are eligible has been expanded; companies that are exploring in new areas or using innovative techniques will be eligible.
“We know that resources is the biggest contributor to the Territory economy, creating thousands of local jobs directly and indirectly,” NT Minister for Mining and Industry Nicole Manison said.
“Our $9.5 million Resourcing the Territory program is the biggest investment by any Territory Government into programs to attract and support resources exploration in the Territory.
“The program is designed to accelerate mineral exploration and discovery that will drive mining development and create even more jobs right across the Territory.”
Mineral production brought $4.86 billion and over 4000 jobs to the NT last year.
“Demand for … critical minerals is projected to rapidly grow with the increasing transition to renewable energy and battery storage, along with the crucial role of these minerals in areas such as medicine and defence,” the NT Government said in a statement.
“This presents a significant economic and strategic opportunity for the Northern Territory, and one that is a key part of the Territory Government’s plan to build a $40 billion economy by 2030.”