Business news from across the Northern Territory: Latest highlights include the Chief Minister visiting Japan for economic talks and signing an agreement with Inpex, the NT Government announcing a sustainable agriculture blueprint for the region, and Telstra’s Best of Business Awards announcing NT finalists. Also making resource news is Core Lithium Increases Finniss Project Reserves increasing by 42 per cent.

Economy

Chief Minister signs agreement with Inpex in Japan

Chief Minister Lia Finocchiaro has signed a “new strategic agreement” with Inpex during her trip to Japan this week, which she said will boost Japanese investment in the Northern Territory, expand skills and training for Territorians, maximise service and supply opportunities for local businesses, secure energy reliability for both the NT and Japan and “deliver on the path to new zero by 2050”.

An inaugural Coordination Committee has also been established to “provide joint oversight and drive implementation of deliverables within the strategic agreement, with the first meeting set to take place in Darwin next month”, the government said. The agreement will also formalise support for Inpex’s decarbonisation “journey” with Carbon Capture and broader renewable energy in the NT.

Companies

Telstra’s Best of Business Awards announces NT finalists

Telstra’s Best of Business Awards have announced the finalists from the NT, showcasing a range of innovative local enterprises that are making a significant impact. One notable contender in the Building Communities category is Natural Territory, a brand dedicated to transforming the beauty industry through sustainability, simplicity, and inclusivity. Natural Territory aims to empower women by providing accessible and effective beauty solutions tailored to various individual needs.

In the Championing Health category, Metanoia Rays has been recognised as a state finalist. This purpose-driven, multicultural disability support provider delivers person-centred and inclusive services across Australia. Metanoia Rays is committed to promoting health and fostering community, empowering individuals of all abilities—participants and staff—to lead independent, connected, and fulfilling lives. These exemplary businesses embody the spirit of innovation and community engagement that the Telstra Awards aim to celebrate.

Agriculture

NT Government announces sustainable agriculture blueprint for NT

The NT Government has unveiled a report advocating for sustainable agricultural development in Northern Australia. The report, created in partnership with the Department of Agriculture and Fisheries (DAF) and the Cooperative Research Centre for Developing Northern Australia (CRCNA), outlines six crucial recommendations to foster long-term growth, particularly in the Douglas Daly region.

Key proposals include enhancing DAF’s role in driving economic development, establishing a strategic development framework, improving infrastructure, setting up a research farm, and investing in capacity building for Traditional Owners. The Department of Agriculture and Fisheries plans to create an implementation strategy in collaboration with various stakeholders, including the Federal Government. The full report can be viewed here.

Resources

Core Lithium Increases Finniss Project Reserves by 42 per cent

Core Lithium Ltd has announced a significant boost to its Finniss Lithium Project, with an updated ore reserve estimate for the Carlton deposit revealing a 42 per cent increase in total reserves to 15.2 million tonnes, with a lithium oxide (Li2O) grade of 1.26 per cent. This revision enhances the company’s Restart Study mine schedule, which is now 87 per cent underpinned by Ore Reserves, and suggests potential for future expansion.

The reserve increase bolsters confidence in the Finniss project’s long-term viability and provides greater operational flexibility for the company moving forward. The mine plays a crucial role in the company’s plans to expand its lithium resources in response to growing market demands.