A report from Deloitte evaluating the outcomes from the Resourcing the Territory 2018-2022 initiative has just been released. The initiative was a $26 million four-year commitment from the Northern Territory Government designed to support resources exploration in the NT, administered by NTGS, and was a precursor to the current $9.5 million per annum ongoing Resourcing the Territory program.
Four key program areas were covered under this initiative:
- Pre-competitive geoscience
- Exploration grants
- Data accessibility
- Promoting the prospectivity of the Northern Territory
Deloitte engaged in extensive stakeholder consultations with 12 industry participants, 2 peak bodies (AMEC and the Minerals Council of Australia) and 2 collaborative organisations (Geoscience Australia and CSIRO). All stakeholders strongly supported the maintenance or expansion of the Initiative.
The report focuses on a qualitative evaluation of outcomes and impacts from the Initiative and provides strong support for the continuation of Resourcing the Territory, with potential expansion of the Initiative if possible. In its key findings, the report states that “evidence gathered consistently highlights the positive impact of the Initiative on exploration activities, economic outcomes, and the overall development of the NT’s resource sector”. A key finding of the report is that “investment into pre-competitive geoscience is one of the most significant things the Territory Government can be doing to de-risk investment and increase the possibility of successful resource projects contributing to the Northern Territory economy.”
Download Deloitte's Resourcing the Territory (2018-2022): Program Outcome Evaluation Report through GEMIS.