The $9.5 million annual ongoing initiative is providing pre-competitive geoscience, investment attraction and exploration stimulus programs designed to increase exploration activity and success rates, and open up new areas of the Territory for exploration.
It follows the successful first edition of the $26 million Resourcing the Territory initiative (2018-2022) and $23.8 million Creating Opportunities for Resource Exploration (CORE) initiative (2014-2018).
In April 2021, the Northern Territory Government announced that from July 1, 2022, funding for the Resourcing the Territory initiative will be increased from $6.5 million to $9.5 million per year, with the funding to be ongoing. Further details on the expanded program will be announced in the second half of 2022.
The expanded, ongoing Resourcing the Territory is the largest initiative ever undertaken to support resources exploration in the Northern Territory. It aims to make the Territory a preferred destination for exploration investment and supports local businesses and communities that rely on the exploration and mining sector.
The initiative is being undertaken by the Northern Territory Geological Survey (NTGS). It includes a focus on partnerships and collaborations with industry, researchers and other Government geoscience agencies to support industry innovation and deliver integrated and contemporary geoscience data and interpretations that are designed to open up new areas for exploration and underpin private sector exploration success.
Key themes of Resourcing the Territory are:
NTGS undertakes geoscience programs targeted towards a better understanding of the Territory’s geological framework and prospectivity. Our client-focussed team also manages and delivers pre-competitive geoscientific data, industry reports, and actively promotes the exploration potential of the Territory.