Business news from across the Northern Territory: Latest highlights include the Supreme Court criticising NTCAT for a legal mistake in a housing project decision, the Federal Environment Minister approving the Sun Cable project, and the NT Government and Blueflite developing hydrogen fuel storage for UAVs. Also making resource news is Core Lithium starting the Finniss drilling program and Astute Metals boosting its funds by close to $3 million.

Industry

NT Government, Blueflite to develop hydrogen fuel storage for UAVs

The NT Government has partnered with Blueflite to tackle the increasing worldwide need for secure and dependable hydrogen fuel storage solutions tailored for unmanned aerial vehicles (UAVs). Blueflite will be setting up shop in Darwin and will focus on creating an innovative, lightweight, high-pressure hydrogen storage container that will leverage Advanced Fiber Placement (AFP) technology, aiming to cater to the needs of the long-range UAV market. The company said it will utilise its advanced additive manufacturing technologies with Charles Darwin University (CDU). This includes using CDU’s industrial robot equipped with cutting-edge AFP capabilities. Flight testing will occur at the UAV flight test range in Darwin.

The project will create as many as 180 job opportunities, proponents say, and infuse the Territory’s economy with up to $94 million over the next five years. Long-range UAVs are crucial in numerous medical, agricultural, services, and mining sectors – particularly in geographically isolated or vast regions such as the NT.

 

Federal Environment Minister approves Sun Cable project

Sun Cable’s resurrected Australia-Asia PowerLink project, which aims to generate solar power from the Barkly region for use in Darwin and Singapore, has been approved by federal Environment Minister Tanya Plibersek. The approval came with strict conditions to protect nature, including requirements to avoid the habitat of important species like the Greater Bilby and other critical habitats. The project was assessed under the Environment Protection and Biodiversity Conservation Act.

The potentially $30 billion-plus project consisted of two parts, with the Darwin part aiming to deliver up to 4GW of electricity through an 800km transmission line to the proposed Middle Arm industrial precinct. At the same time, the Singapore element proposes to send 1.75GW of solar power to Singapore through a 4,300km under-sea transmission line. “It will be the largest solar precinct in the world – and heralds Australia as the world leader in green energy,” Minister Plibersek said. Sun Cable is owned by a consortium led by Grok Ventures, owned by Mike Cannon-Brookes.

Real estate

Judiciary approves contentious housing development in Darwin

The Supreme Court has ruled that the NT Civil and Administrative Tribunal, which blocked the Elysium Green apartment project, erred in law when determining the amenity of the development proposal and ordered that the tribunal reverse previous decisions. Kalhmera Pty Ltd, an NT developer, plans to construct a seven-storey apartment complex named Elysium Green, featuring 101 units across two towers located at 4 Blake Street, despite opposition from local residents.

Since its initial application in 2016, Elysium Green has undergone three reviews by NTCAT and faced two Supreme Court lawsuits, with the most recent ruling supporting the project. SC Justice Meredith Huntingford ruled that NTCAT “failed to exercise its jurisdiction properly… by failing to determine the correct or preferable decision concerning the development application” and that the development must be allowed.

Kalhmera’s planning submission said the development would contain a gymnasium, residents’ lounge with eateries, office space, and a basement carpark on the ground floor. “The proposed development blends architecture, landscape, and streetscape into an integrated whole to produce a landmark development in the Blake Street Precinct,” the development application said. “The proposal introduces several Territory-first high-rise residential design initiatives and sustainability inclusions.”

Resources

Core Lithium starts Finniss drilling program

Core Lithium has initiated drilling operations at its Finniss lithium project located in the Northern Territory. This move aims to broaden the project’s scope by discovering new minerals. This drilling campaign extends Core’s previous activity at the Shoobridge project, where four additional holes were drilled. The drilling marked the next phase of development.

“Drilling at Finniss will target areas that have yet to be extensively explored, outside the more developed targets at Grants and BP33. While operations at Core’s processing infrastructure are being maintained in a restart-ready state, Core is taking the opportunity to add to the substantial resources at Finniss,” Core CEO Paul Brown said.

 

Astute Metals boosts its funds by close to $3 million

Astute Metals completed its non-renounceable pro-rata entitlement offer, raising $2.96 million. These funds will be used to further explore the company’s asset portfolio in both Australia and the US. In the deal presented, shareholders received one new share for every four shares they already owned, with the new shares priced at $0.028 each.

The existing shareholders requested an extra 10.5 million new shares. Astute Metals, holding a market value of $15.26 million, intends to allocate the raised capital for exploration activities at their copper-gold site, the Leichhardt East target, within the Georgina Basin Project in the Northern Territory.

Additionally, the funds will contribute to the progression of the Red Mountain Lithium Project. “The company is now strongly positioned to embark on the next phase of its growth and development, and I am excited about what the future holds,” Astute Metals chairman Tony Leibowitz said.