Business news from across the Northern Territory: The latest NT business highlights include the NT Government granting two key mineral leases to Verdant Minerals; Inpex halts operation of Bladin Point facility to facilitate business expansion, and Kakadu National Park’s Gunlom Falls to reopen to visitors and tourists next month. Also making resource news is DevEx Resources discovering new uranium targets at the Nabarlek Project, and new uranium anomalies and rare earth potential found in NT.

Mining

NT Government grants two key mineral leases to Verdant Minerals

The NT Government has granted Verdant Minerals two mineral leases for the Ammaroo Phosphate Project, about 220 km southeast of Tennant Creek. This project will operate for at least 25 years with a $700 million capital investment. Mining and Energy Minister Gerard Maley noted the importance of securing the leases for one of the world’s most significant undeveloped phosphate resources, which are crucial for fertilisers and global food security.

Verdant Minerals is finalising its Mining Authorization, and construction will commence once it receives approval. Managing director Chris Tziolis expressed optimism about this milestone for the project. “With the Project now consented to by Native Title Holders and the NT Government granting tenure, Verdant now has crucial certainty to progress the project financing process,” Mr Tziolis said.

Companies

Inpex halts operation of Bladin Point facility to facilitate business expansion

Inpex has started preparatory work for a significant expansion of its Bladin Point plant, aiming to increase the workforce from 600 to 1,600 and invest approximately $350 million over the next month. The comprehensive maintenance shutdown of the Ichthys LNG facility will take place from August to October, involving collaboration with 22 local companies. NT general manager Richard Finch said Inpex’s vision for the $60 billion facility includes expanding liquefaction capacity, promoting lower-carbon solutions, and diversifying energy ventures over the next decade.

Mr Finch indicated plans for developing a third LNG train in Darwin and the transition to gas from the Timor Sea’s Cash-Maple field by the mid-2030s. Additionally, Inpex aims to implement carbon capture and storage at Ichthys LNG by 2030. The Northern Territory is the third-largest LNG producer in Australia, with gas exports significantly contributing to its economy.

Tourism

Kakadu National Park’s Gunlom Falls to reopen next month

Gunlom Falls in Kakadu National Park will reopen this May after a six-year closure due to disturbances of a sacred men’s area during construction of the nearby walkway. The site was closed in 2019, resulting in a $200,000 fine for Parks Australia and a formal apology. A new agreement has been reached between the traditional owners and the Commonwealth Government, including increased annual rent of $10.7 million and a provision for the traditional owners to receive 50 per cent of commercial revenue. Gunlom Falls, known for its stunning views and seasonal beauty, has a history of name changes and is particularly spectacular after the Wet season.

Resources

DevEx Resources discovers new uranium targets at the Nabarlek Project

DevEx Resources Limited has discovered several promising large-scale uranium exploration targets near the historical Nabarlek Uranium Mine in the McArthur Basin. These unexplored targets, which exhibit radon anomalies and extensive alteration features, have yet to be drilled and offer considerable opportunities for uranium mineralisation. The company intends to initiate field studies to prioritise drilling locations to strengthen its foothold in the uranium sector and potentially uncover new greenfield uranium deposits.

DevEx said it is dedicated to uranium exploration and operates in the Alligator Rivers Uranium Province in the Territory. The company focuses on identifying and developing substantial uranium deposits, particularly within its fully-owned Nabarlek Uranium Project, an area renowned for its significant uranium resources.