The Northern Territory Government continues to drive economic development and maximise resource exploration in the Territory with round 16 of Geophysics and Drilling Collaboration grants.
$3.7 million in grants has been awarded, to support 38 projects from 30 companies under the program, which is part of the Resourcing the Territory initiative, designed to fund mineral exploration, drive more mining development and create jobs for Territorians.
The funding will support a diverse range of innovative drilling programs and geophysical surveys across the Territory, including in the Barkly, Central Australia, the Tanami region and Pine Creek region.
The number of projects receiving co-funding this year is the highest ever, and is more than double the long-term average of 15 projects co-funded per year.
28 of the projects are targeting current and emerging critical minerals, including lithium, copper, rare earths, nickel, and for the first time magnesium and graphite.
The remaining ten projects are targeting gold.
Resourcing the Territory is a $9.5 million program by the Territory Labor Government, to help accelerate resources exploration and development in the Northern Territory.
