NT courts Canadian explorers

THE Northern Territory has showcased the Critical Minerals in the Northern Territory guide at a conference in Toronto, Canada in a bid to woo international investors and explorers.
NT courts Canadian explorers NT courts Canadian explorers NT courts Canadian explorers NT courts Canadian explorers NT courts Canadian explorers

NT exploration

The guide outlines the NT's list of 15 critical minerals, as well as geological potential for a further 13 emerging critical minerals.

The 15 critical minerals include aluminium, cobalt, copper, lithium, magnesium, manganese, molybdenum, nickel, phosphate, rare earth elements, titanium, tungsten, vanadium, zinc, and zirconium.

The 13 potentials include antimony, bismuth, gallium, germanium, graphite, helium, high purity alumina, niobium, platinum-group elements, scandium, silicon, tantalum, and tin.

Mineral exploration in the NT is up 30% on 2021 figures, with expenditure also up, from $153.4 million in 2021 to $198.6 million in 2022.

In the December quarter mineral exploration expenditure was $56 million, up 25% on the same quarter in 2021.

NT mining minister Nicole Manison said the territory was underexplored for critical minerals and the demand for those minerals was expected to soar.

"This presents huge economic and strategic opportunities for the NT to become a leading and reliable supplier of minerals to support the global energy transition," she said.

"The $82.7 million spent on exploration for critical minerals such as lithium and rare earths was a record, 74% higher than the record previously set in 2011."