The mineral production and exploration expenditure figures for 2019/20 have been released showing another strong year for the Territory mining sector.
The total value of mineral production was $4.4billion, being the third highest level ever recorded in the Territory.
Mineral Exploration expenditure for 2019/20 was also strong with $123million spent by dozens of companies – resulting in the second highest figure since last mining boom in 2012, and 56 percent higher than 2016/17 results.
Given the impact Covid-19 had on borders and FIFO workers this year, these are extremely positive and promising results for the Territory mining sector and the Territory economy.
Because the Territory is the safest place in the nation, we have been able to reopen our economy sooner. The lifting of most travel and land restrictions since June, has allowed exploration activity to begin faster across much of the Territory.
View the 2019/20 mineral production results here.
As noted by Minister for Mining and Industry Nicole Manison:
“We acted swiftly to keep Territory’s mines operating in a safe way through the COVID-19 pandemic – because we know the ongoing strength of our mining industry has a key role in sustaining and growing the Territory’s economy.
“Mining is a huge job creator in the Territory, employing over 4,400 people directly – and with a number of projects in the pipeline we can only expect this number to boom.
“These are extremely positive results for the Territory mining sector, and with the Territory on the path to being the comeback capital of Australia – we can expect even stronger results next year.”