Latest highlights include Wilga Indigenous Corporation awarded the Ship Lift sub-contractor package and a new report pointing out the major problems in the local economy. Also, in resource news, Rio Tinto is taking over the Ranger mine rehab program and Tennant Minerals completes a $4.8 million capital raising effort.
The Northern Territory economy shrunk by 5.2 per cent to $30.1 billion last year, driven by declining net exports, according to new government data, which casts further doubts around the Lawler Government’s claims of building a $40 billion economy by the end of the decade.
The Senate inquiry into the Middle Arm industrial precinct will will hold public hearings in Darwin starting tomorrow, with the inquiry aiming to investigate the $1.5 billion in federal funding for the gas and manufacturing hub, the environmental impacts of the proposal as well as who is benefiting from the project.
Darwin home prices could accelerate next year if anticipated interest rate cuts go through, amid an ongoing housing shortage, a new property forecast report released by Oxford Economics Australia has found.
The latest highlights include AAT Kings unveiling two new Short Break tours in the NT and Indonesia banning cattle imports due to a suspected botulism outbreak. Also making resource news is Santos getting federal environmental approval for its 100 km Barossa pipeline. NT’s mineral exploration expenditure hits $228.1 million for 2023, and NT’s resource exploration increases as mines close.
The NT Government awarded 15 contracts in the last week to a total of $4.83 million with the largest being awarded to Electrical & Fire Services Pty Ltd for Repairs and Maintenance of Fire And Smoke Doors, Shutters And Roller Doors in NT Government Assets for a Period of 60 Months in Darwin Region.
Issues such as the high cost of doing business, declining population, and rampant crime will cause the NT economy to fall an estimated $6 billion short of its targeted $40 billion economy by 2030, a new report has found.
Latest highlights include Darwin still holding the highest rental vacancy rate in the country, Darwin council questioned about a supposedly unfair new procurement policy, and $20 million in venture capital for companies expanding business in the NT. Also, making resource news, new warnings from experts that the cost of Beetaloo gas is unlikely to be competitive.
Low-cost carrier Airnorth is the third airline to expand its network in the NT by launching a new Alice Springs to Perth route under the NT Government’s Aviation Attraction Scheme, which aims to attract new players into the local aviation market.
The Northern Territory lost 868 people to interstate migration in the September quarter, and the Territory’s estimated population decreased by 60 people to 252,469, but the population only declined because of the departure of US marines, a NT Department of Treasury and Finance economic brief states.
Henry Burke has been elected as the new president of the NT Cattlemen’s Association, the ABC has reported.
Dozens of workers at Glencore’s McArthur River Mine have been stranded in mine buildings after floodwaters from Cyclone Megan cut access back to the worker accommodation, while two workers had to be rescued from floodwaters after their vehicle washed off an internal road, the company has confirmed.
