The 2025-26 Northern Territory Budget has highlighted the importance of the minerals industry in the NT Government's plans to 'Rebuild the Territory' economy.
The Northern Territory relies on the resources sector, accounting for 25 per cent of the Territory's gross state product in 2023-24.
The NT Government has demonstrated good fiscal management with its plan to return the budget to surplus in 2027-28, but to get there it needs to ensure the Territory has a competitive edge in attracting investment in minerals projects. This will create long-term sources of revenue, grow the economy, and provide the funds to be able to provide the services Territorians need.
The NT Government's investment in infrastructure of $2.74 billion - including highway upgrades in the Tennant Creek to Townsville Road corridor ($57.5M) and upgrades to the Sandover Highway ($28M) and Carpentaria Highway ($8.5M) - will help to address infrastructure deficits and unlock some of the Territory's untapped mineral potential in the regions.
Initial design works for a new Industrial Subdivision Parnttali in Tennant Creek is an in important investment in developing much needed common user infrastructure the Barkly region.
The MCA welcomes the ongoing investment in exploration through the Northern Territory Geological Survey at $9.5 million per annum including co-funding of projects and precompetitive geoscience information to encourage exploration. These co-funding programs are vital to increasing the Territory's attractiveness to explorers which can potentially lead to unlocking full scale operations down the line.
Developing the next generation of the local Territorian workforce is a priority of the MCA. Industry welcomes the inclusion in the budget of incentives to increase skills and workforce capacity in the NT including payroll tax exemptions for apprenticeships and trainees, and an increase in the tax-free threshold.
Combined with the allocated $120 million for training and higher education, $2 million to attract workers and students, and providing free TAFE for young Territorians, there will be a much-needed boost to building the Territory's future.
