Business news from across the Northern Territory: Latest highlights include Federal Environment Minister Tanya Plibersek requesting the Independent Scientific Expert Committee advise government regulators on the water impacts associated with gas projects in the Beetaloo, the availability of rental properties in Darwin further decreased in August, leading to a vacancy rate of less than 1 per cent, and Tourism NT focuses on attracting Chinese investment. Also, making resource news, Glencore to plead over alleged breach on Damangani barramundi sacred site.

Industry

Evaluation of Beetaloo environmental impact to decide on activating ‘water trigger’ for fracking

Federal Environment Minister Tanya Plibersek has requested the Independent Scientific Expert Committee (IESC) – established to advise government regulators on the water impacts associated with gas projects – to assess whether the Commonwealth will activate the “water trigger” for the Beetaloo project. The “water trigger” involves a detailed examination of how large coal seam gas and coal mining projects could affect water resources. Should the trigger be activated, it will guarantee that the water impacts undergo thorough scrutiny under national legislation.

Last year, the NT Government greenlit large-scale fracking in the Beetaloo Basin, and also signed a nine-year gas purchase agreement with Tamboran Resources, which received approval to drill at 15 new sites in the Shenandoah South project, about 600 km south of Darwin. As one of three stakeholders in the basin, Tamboran plans to use 375 million litres of water annually for its operations, a move critics argued should have seen the then-Labor government subject it to additional regulatory scrutiny.

Real estate

NT rental markets still constrained

The availability of rental properties in Darwin further decreased in August, leading to a vacancy rate of less than 1 per cent, while the rental market in regional NT also saw a reduction, according to the latest insights from the PropTrack Market Insight Report. Darwin’s rental vacancy rate slightly declined by 0.11 percentage points in August, settling at 0.93 per cent, which positions the NT’s capital as having the second-most constrained rental market in Australia.

In August, the vacancy rate in regional NT decreased by 0.56 percentage points, reaching 1 per cent. This decline was also reflected over the quarter (down 0.45 percentage points) and the year (down 1.04 percentage points), marking the most substantial annual reduction in vacancy rates nationwide. Following closely behind was Darwin, securing the second spot. Across the country, the vacancy rate fell slightly by 0.04 percentage points to 1.39 per cent in August.

Tourism

Tourism NT focuses on attracting Chinese investment

Tourism NT aims to attract Chinese travellers and benefit from their spending following a week-long promotional tour in China earlier this month. This effort was designed to draw interest from Australia’s northern neighbours. A group of representatives from the Top End’s tourism sector and eight NT-based tourism and hospitality businesses visited Guangzhou, Beijing, and Shanghai, with the aim of networking and building relationships with Chinese product managers, travel agents, and journalists.

Scott Lovett, the deputy chief executive of Tourism, Services, and Hospitality, said the journey provided a valuable chance to put the Territory back on the travel itinerary of Chinese tourists. “China has been identified as one of our targeted investment markets with a trade and consumer engagement strategy in place to grow visitation in the coming years,” Mr Lovett said.

The initiative was launched after acknowledging the NT has experienced another challenging quarter in tourism. The decline continues existing trends, worsened by increasing living costs impacting both domestic and international travel.

Resources

McArthur River Mine faces charges over alleged violations at ‘Barramundi Dreaming’ sacred site

Representatives for McArthur River Mining company told Darwin Local Court Judge Tanya Fong Lim they intended to enter a plea to the charge of carrying out work on a sacred site, next to its waste dump, at the mine 70km southwest of Borroloola. The mining company owned by Glencore, which is involved in lead and zinc extraction, is facing accusations of operating at Damangani, also referred to as “Barramundi Dreaming” or Mt Stubbs, without securing the required authority certificate.

After the Darwin Local Court proceedings, MRM acknowledged carrying out “minor works,” including installing metal handrails around the Damangani sacred site for environmental sampling. Damangani is next to the spot where Glencore’s 80m rock waste pile caught fire in 2014, releasing sulphur dioxide clouds. The case has been postponed for a plea until December 12.