Business news from across the Northern Territory: Latest highlights include the Territory’s renewable efforts lagging behind other states and territories, and Sydney-based apparel company Okanui opening its first store in the Territory. Also making resource news is Tamboran Resources commencing drilling in Beetaloo Basin, Tartana Minerals transports huge shipments of copper sulphate to NT, and Core Lithium aims to increase uranium production in the NT.

Economy

Territory’s renewable efforts still fall short against other states and territories

The NT needs to catch up to other jurisdictions if it is to meet its renewable energy goal of 50 per cent by 2030, the Climate Council of Australia says. According to the council’s new report, titled “Race to the Top: Australia’s Clean Energy Momentum,” the Northern Territory must boost its electricity generated from renewable sources by 42.3 per cent to reach its renewable energy target.

The report revealed that the Territory is sourcing just 6.7 per cent from renewable sources, a figure significantly lower than Canberra’s 100 per cent, Tasmania with 98 per cent, and SA’s 74 per cent.

Climate experts have also cast serious doubts on the NT’s 2050 emissions target due to the NT Government’s significant expansion of the local gas industry. Analysts said the Territory could not lower its emissions bill given the scale of the gas projects in the Beetaloo Basin, Middle Arm industrial precinct, and the Barossa gas field.

Companies

Sydney-based Okanui opened its first store in the Territory

Apparel company Okanui has made its debut in the NT market with the launch of its inaugural store at the Darwin Waterfront precinct. The new outlet provides beach-inspired clothing for men, women, and kids, showcasing Okanui’s distinctive ‘Escape the Everyday’ fashion line. Last year, the brand saw its sales surge by 150 per cent, which led to its decision to broaden its retail presence in Australia.

“Darwin is buzzing with energy…this dynamic city has established itself as a key gateway, contributing to a record-breaking $2.3 billion visitor spending across the NT last year. Our team has worked hard to create a space that reflects the brand’s positioning of Escaping the Everyday,” Okanui CEO Simon Kasprowicz said. The Darwin shop, located at 19 Kitchener Drive at Waterfront, takes Okanui’s store count to nine.

Resources

Tamboran Resources commences drilling in Beetaloo Basin

Tamboran Resources said it has started drilling operations for two wells in the Beetaloo Basin under its Shenandoah South (SS) Pilot Project, marking the most extensive operation within the gas field to date. The drilling of the wells, set to be completed within a month, will employ the advanced Liberty frac fleet technology – a method the company says will considerably enhance gas flow, ensuring superior outcomes. Tamboran expects production at this pilot shale gas project to begin in the first half of 2026, pending final approvals from stakeholders and regulators.

The SS-2H well within EP 98 is currently in progress, positioned about three miles north of the SS-1H well on a newly established pad. This activity falls within the SS pilot project area managed by Tamboran. After completing the SS-2H well, Tamboran plans to immediately proceed with drilling the SS-3H well from the exact location, preceding a fracture stimulation initiative. Tamboran said once flow testing is complete, both wells will be suspended as future producers to supply the company’s proposed 40 million cubic feet per day SS pilot project. In April, the company entered into a 15-year agreement with the Northern Territory Government to supply 40 terajoules of gas daily to meet the region’s energy demands.

Tartana Minerals transports huge shipments of copper sulphate to NT

Tartana Minerals has completed its largest shipment of copper sulphate to date, sending 150 tonnes of the product from its Queensland facility to a major mining site in the NT. This transaction was conducted through Kanins International, a top distributor of copper sulphate, under an exclusive three-year off-take agreement signed in November 2022, which guarantees Kanins 100 per cent of the sales and distribution rights for Tartana’s technical-grade copper sulphate.

“Improved plant performance has increased product quality, continuing to build a strong market for our ongoing copper sulphate pentahydrate production,” Tartana managing director Stephen Bartrop said. “This shipment marks an important milestone as it represents our largest shipment to date within the company’s recent sales to the North Australian mining industry.”

Core aims to increase uranium production in NT

Core Lithium expects its Napperby uranium deposit in the NT to extend its resources further since the area covered by the project’s existing mineral resource represents only a fraction of its potential. Core said it is preparing to start new drilling to extend its mineral resources within the prospective paleochannel. The company said it has already submitted the approval applications for the areas of interest and expects drilling to commence later this year.

Core CEO Paul Brown said the company plans to extend the current uranium mineral resource at Napperby through targeted drilling as soon as approvals come through. “As drilling continues at our Finniss lithium project in support of our restart studies, we will continue to progress opportunities like Napperby where we believe we can create value for Core shareholders through low-cost, targeted exploration in prospective areas,” he said.