Brief rundown of current exploration in the Northern Territory

The push for increased uranium mining in the NT is riding on the coat tails of the federal government’s push for increased uranium export. In the period between January 2007 and April 2008, 386 exploration licences were granted by the Northern Territory Government. Of these, 193 (50%) were to companies who have a specifically sited interest in mining uranium.
The Northern Territory Government has committed $14.4 million over 4 years (2007-2011) to assist explorers to make the next major mineral and petroleum discovery. As part of the initiative, exploration companies are entitled to apply for 50% or up to $100 000 of their costs for drilling and geophysical surveys in to boost activity in under-explored regions.

The 2008 Budget also includes:

• $700,000 to implement new strategies to increase access for mineral and energy exploration on Aboriginal land.

• $560,000 to promote exploration and mining investment opportunities in the Territory. This includes the new $310,000 ‘Orestruck’ marketing campaign.

NTG support for an expansion of the mining industry is being provided not only financially but through policy changes and fast-tracking the licensing process. Steps being taken to facilitate land access include:

1. Native Title processes for the grant of exploration licences continue to be streamlined through the use of the expedited procedure under the Native Title Act.

1. Amendments to the Aboriginal Land Rights (Northern Territory) Act provide new streamlined provisions for access to Aboriginal freehold land and an opportunity for greater involvement by the Territory.
2. Additional support in obtaining land access is being provided with the recruitment of staff to attend on-country meetings and assist explorers.
3. A review of the Mining Act is being progressed with the aim of developing transparent and efficient legislation for the grant of exploration and mining titles.

For more information go to: http://www.orestruck.nt.gov.au/index.cfm