Mineral production in the Northern Territory is booming with the latest figures showing the second highest value ever recorded in the NT, boosting the economy and local jobs.
For the 2022 financial year, the total value of mineral production was $4.86 billion, up 14% from last year’s figure of $4.28 billion.
This is the second highest figure ever recorded in the NT and just shy of the record figure of $4.92 billion in 2018/19.
Higher manganese and zinc prices have contributed to the increase in the value of mineral production in the Territory.
The value of manganese production rose 21% to $1.78 billion, while the total value of zinc-lead concentrate increased by 27% to $1.15 billion.
There was 2% increase in the volume of gold produced to 15.2 tonne (528,000 ounces), with a 4% increase in the value of gold production to $1.24 billion due to a slightly higher gold price.
The Territory Government is working hard to make the Territory the best place for exploration and mining investment in Australia.
Our newly established Mineral Development Taskforce will accelerate mining development in the Territory, delivering a clear signal to investors that the Northern Territory is committed to growing this key sector.
The $9.5 million Resourcing the Territory initiative is the largest and longest term investment ever made by a Territory Government to support resources exploration and development.
Continued strengthening of the resources sector will lead the Territory well on its way to a $40 billion economy by 2030.