Territory Mineral Exploration Expenditure Reaches Eight Year High

The Australian Bureau of Statistics (ABS) yesterday released new datawhich shows that Territory mineral exploration expenditure in financial year2018/19 was 21% higher than financial year 2017/18.

Territory mineral exploration expenditure for financial year 2018/19 wasa strong $131.9 million including $32.5 million in the most recent June 2019quarter which is up 15% on the same quarter last year.

The figure recorded for Territory mineral exploration expenditure infinancial year 2018/19 is the highest for any financial year since 2011/12, atthe end of the last mining boom.

These latest figures continue the strong Territory growth trend seenover the past two years, and provide an excellent start to NT Resources Week tobe held in Darwin this week.

NT Resources Week sees some of the Territorys foremost resource andconstruction events combine to be a world-class week of conferencing,exhibition, networking events, and industry panellists in a comprehensive lookat the industry as a whole under one roof at the Darwin ConventionCentre.

NT Resources Week 2019 features the South East Asia Australia Offshoreand Onshore Conference (SEAAOC), Mining the Territory and, for the first time,the Environmental Management and Logistics Forum.

In its 12th year, NT Resources Week has become aninternationally recognised forum, and is supported by the Northern TerritoryGovernment.

As noted by Minister for Primary Industry and Resources, Paul Kirby:

Mineral exploration is important to ongoing job creation – somethingthe Territory Labor Government continues to focus on as a priority.

Posting the strongest financial year result since 2011/12 isobviously pleasing, and something Im sure well hear about this week at NTResources Week.

NT Resources week is a highlight of the industry calendareach year as a one-stop destination, bringing together industry and expertsalongside delegates from across Australia and overseas, and is supported by theNorthern Territory Government.

The week has truly built a reputation of being afirst-class series of events across the three conferences, and as a leadingeducational forum, showcasing investment opportunities and the capability ofthe sector.

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