The Northern Territory (NT) Government has opened applications for Round 17 of its Geophysics and Drilling Collaborations program, with up to $3 million in grants available to advance exploration.
The grants aim to address geoscientific knowledge gaps, advance exploration activity and support the discovery and development of resources in the Territory.
Over half of the $3 million in funding will be directed towards projects targeting commodities on the NT’s critical minerals list, which has recently seen an addition of two new critical minerals: gallium and graphite.
“It is clear that the demand for critical minerals is driving this growth in exploration, and as it stand over 4400 Territorians work within the minerals industry,” Territory Minister for Mining Mark Monaghan said.
“The Northern Territory is standing at the helm of a global critical minerals surge, and we have the opportunity to become a leading supplier for the world’s renewable energy transition.
“Of the world’s critical minerals, the Northern Territory now has mineral resources for 17 – up from 15, with high potential for a further 12.”
The total value of mineral production in the Northern Territory was $4.86 billion last year, with 4400 people employed within the industry.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.