TheTerritory Labor Government has welcomed the release of new Australian Bureau ofStatistics (ABS) data showing Northern Territory mineral explorationexpenditure in the March 2019 quarter was $27 million up 20 per cent comparedto the March 2018 quarter.
Theseresults are also the highest mineral exploration expenditure for a Marchquarter (typically the weakest month for activity due to the wet season) sincethe March quarter of 2012 during the last mining boom.
Importantly,the ABS data shows that more than 50 per cent of the March 2019 quarter mineralexploration spend was on gold.
Ina real sign of confidence for the Territory economy, a total of $14 million wasexpended on gold exploration meaning the March 2019 quarter was the highestexpenditure ever recorded for gold exploration in a March quarter.
Thesestrong results building on the 35 per cent growth in mineral explorationexpenditure in calendar year 2018 come on the back of the Territory LaborGovernments investment of $26m over four years in exploration stimulusprograms under the Resourcing the Territory initiative.
TheTerritory Labor Governments Resourcing the Territory initiative is thebiggest investment by any Territory Government into programs to attract andsupport resources exploration in the Territory.
Quotesfrom Minister for Primary Industry and Resources, Paul Kirby:
OurGovernment is supporting mineral exploration that creates jobs now and jobs for into the future.
Thesestrong results continue the recent trend where growth in Territory mineralexploration expenditure is exceeding the national average.
Theresurgence in gold activity in the Territory is being backed by our Governmentwith our recording breaking investment of $26 million over four years in Resourcingthe Territory exploration stimulus programs.
OurGovernments investment in mineral exploration is hitting the ground across ourregions in places like Pine Creek, Central Australia, and the Barkly helping to drive new investment, support businesses and create local jobs.
