Business news from across the Northern Territory: The latest highlights include Qatar-Virgin buy-in signals positive developments for NT, bookings open for Top End discount tourism scheme, and the NT Chamber of Commerce looking for a new chief executive. Also making resource news is NT greenlights Tivan’s Sandover project, and Astute Metals utilizes its option to acquire IOCG royalty.
The Darwin Airport Development Group has expressed support for Qatar Airways’ intention to acquire a 25 per cent share in Virgin Australia, stating that this move could strengthen the NT’s role as an essential hub for global travel. The deal, pending approval from the Foreign Investment Review Board and the Australian Competition and Consumer Commission, involves the US-based Bain Capital, owner of Virgin, and the Gulf airline. It encompasses an undisclosed purchase amount and would permit flights from Melbourne, Sydney, Brisbane, and Perth to Doha based on a plane and crew lease agreement.
The group believes that the proposed partnership between Virgin Australia and Qatar Airways is significant. They anticipate this collaboration could increase flight availability, broader route connections, and superior travel choices for travellers to and from the Territory.
A discount tourism scheme for the Top End has opened for bookings, with up to 25 per cent savings available, the Tourism and Hospitality Minister Marie-Clare Boothby said. The second phase of the tourism discount scheme was broken into two regions, the Top End and Central Australia, with different qualifying travel periods. Bookings opened on Tuesday in the Top End for eligible travel from January 1 to March 31. In Central Australia, bookings opened on September 1 for travel between October 1 and March 31.
The discount automatically applies to selling products up to $5,000, while retail items and gift certificates are excluded from the scheme. Bookings must be made through Darwin, Katherine, Tennant Creek, Alice Springs, and Yulara visitor information centers.
https://ntindependent.com.au/bookings-open-for-top-end-discount-tourism-scheme/
Tivan has received the green light from the Department of Lands, Planning and Environment to kick off its inaugural drilling project at the Sandover critical minerals site in the NT on October 2. This permission acts as a de facto mining license for Tivan. Valid for a four-year term, the authorization allows drilling operations, mainly focusing on areas rich in lead and silver, such as Aileron Station. Tivan has partnered with EARTH AI for the exploration and is set to advance drilling and a geographic survey with funding from the NT government’s Geophysics and Drilling Collaboration programs.
Tivan is also completing a mineral exploration agreement with the Central Land Council (CLC). The company’s drilling efforts at the Sandover site are focused on five primary zones, which feature discoveries of lead-silver, copper, and lithium pegmatite.
https://www.australianmining.com.au/sandover-project-gets-the-green-light/
Astute Metals has activated a call option agreement for acquiring a 2 per cent net smelter return royalty on the Georgina Basin Iron Oxide Copper-Gold Project located in the NT, a deal facilitated with Greenvale Energy. According to the agreement, the payment to Greenvale will be determined based on an independent Fair Market Valuation contingent on Astute’s shareholders’ approval. To carry out the valuation, both entities have engaged the services of SRK Consulting Australasia.
Boasting a market capitalization of $15.37 million, Astute Metals plans to settle the royalty payment either in cash or through the issuance of fully paid shares currently valued at an estimated $0.029 each, subject to the company’s preference. The Georgina Project comprises ten granted exploration licences covering 4,522 km in the East Tennant Mineral Province of the NT.
https://mining.com.au/astute-exercises-option-to-purchase-iocg-royalty/
The NT Chamber of Commerce is searching for a new chief executive after Mr Greg Ireland announced his intention to step aside. The NT peak business body’s boss since 2020, Mr Ireland, will leave the role at the end of the year after an eventful four-and-a-half-years at the helm. “Greg has successfully guided the Chamber through some very difficult times, and we thank him for his commitment and contributions,” chamber president Natasha Griggs said. Mr Ireland was a chamber board member for eight years, with six of those as chairman before being appointed chief executive in April 2020.
The job description points to a membership-based role with political and industry considerations at the forefront. It said the ideal candidate would “be politically savvy, yet apolitical in all dealings and negotiations with Government.”
