19 Oct 2017
Minister for Primary Industry and Resources
The resources sector is a vital contributor to the Territory economy and jobs, and Minister for Primary Industry and Resources, Ken Vowles, today outlined what the Territory Labor Government is doing to attract more investment in the industry.
Addressing the sector's main players at the NT Major Projects Conference in Darwin, Mr Vowles highlighted the steps being taken.
“The Territory Labor Government knows a strong minerals sector equates to more jobs and, in order to grow this sector, we are making it more attractive for resources businesses to invest in the Territory,” Mr Vowles said.
The value of mineral production in the Northern Territory hit a new record of $3.63 billion in 2016/17, and there is potential for growth.
“The resources sector is responsible for around 4800 Territory jobs, and they aren't limited to on-site mining operations - a resources project has the potential to create further opportunities for service industries, from maintenance and transport, through to catering and legal services. It is also responsible for infrastructure development,” Mr Vowles said.
“With our diverse mix of commodities and the fact we are located so close to the rapidly growing Asian markets, the Territory’s mining sector has the capacity to grow and expand its role in our economy.
“We want to harness the opportunities on offer from our location and the wealth of resources we have, from our established commodities such as manganese and gold to emerging ones such as rare earths and phosphate. We are doing this by making the Territory the most appealing place for resources companies to do business.
“That includes investing in the geoscience required by explorers to seek out new resources projects, and working to streamline processes and give realistic and achievable timelines for approvals processes.”
The Territory Government is also ensuring the industry has the social license to operate through a regulatory regime that meets community expectations.
“In consultation with industry, our aim is for strong, transparent and accountable environmental regulation that does not create layers of green tape,” Mr Vowles said.
Media Contact: Leanne Hudson 0427 687 079