Business news from across the Northern Territory: Latest highlights include the NT’s economy continuing to rely on mining revenues, $19.2 million allocated for major upgrades of the Darwin Convention Centre, and Lagoon Café opening business at the Darwin Waterfront. Also making resource news is Core Lithium’s plans to re-start Finniss operation within three years, and Oceana Lithium outlines huge uranium anomaly at its Napperby Project in NT.
The upgrade will increase the centre’s seating capacity from 4,350 to 5,550, the government said.. This will enable Darwin to host more major events, improve public amenities, and install modern audio and visual equipment, according to Chief Minister Eva Lawler, who said the improvements will boost Darwin waterfront’s tourism potential.
“Tourism and major events are key pillars of the Territory’s economy… We are boosting the capacity of the Darwin Convention Centre because we need the facilities to bring bigger and better events to the Territory because that means more work opportunities for Territorians,” Ms Lawler said.
The resources industry remained the top contributor to the Top End’s economic production at 28 per cent. The Minerals Council of Australia (MCA) said despite mine closures and Cyclone Megan’s adverse effects that led to lower royalty payments, the mining industry is still in a strong position to continue contributing considerably to the economy in the future, if the NT Government secures new investments.
The Minerals Council welcomed the NT Government’s continued investment to exploration under the $9.5 million pledge to the NT Geological Services’ Resourcing the Territory program. It said more work must be done to convert discoveries into actual operating projects that can provide the benefits of jobs and investments.
Territorians can now enjoy classic Australian brunch fare, good coffee, and a variety of juices and cold drinks at the recently opened Lagoon Café at Darwin Waterfront. “Nothing too complicated to confuse customers,” cafe manager and head chef Abir Hassan told the NT News.
The cafe is owned by husband-and-wife duo Nilufer and Nikitas Kavouklis, best known for running Istanbul Kebab Bar. Another new business is expected to open in the Waterfront Precinct in the coming months, when Darren Lynch and his business partners open Dock One Bar.
Oceana Lithium has identified a large uranium anomaly at its 100 per cent owned Napperby Project in the NT. Oceana said the re-examination of the data supports a ‘roll-front’ style uranium mineralisation interpretation for the anomaly. The company will be using the latest data to optimise its field activities next month to narrow down targets for an upcoming drilling program.
Results of current soil sampling defined a uranium anomaly more than 4.5 km long and 700 meters wide. The Paleoproterozoic Wangala and Ennugan Mountains granites have long been recognised as “Hot Granites” and known to be anomalously enriched in a range of elements including uranium, thorium and rare-earth elements (REEs).
Despite the Territory Treasury’s grim assessment of the critical mineral’s future, Core Lithium plans to restart its Finniss mine within three years. Last year, the 85 per cent drop in lithium prices led to a strategic review and subsequent suspension of Core’s operations at its BP33 underground mine in the NT.
Core said it had outlined a plan for resuming operations at its Grants pit and to recommence work on the BP33 underground mine within one to three years. The company’s chief executive, Gareth Manderson, stepped down earlier this year. Interim chief executive Doug Warden said the company’s cash reserves of $80.4 million and zero debt at the end of March made it feasible to resume mining operations.
