{"id":81794,"date":"2024-02-29T00:57:33","date_gmt":"2024-02-29T00:57:33","guid":{"rendered":"https:\/\/globalroadtechnology.com\/\/?p=81794"},"modified":"2024-02-29T00:57:33","modified_gmt":"2024-02-29T00:57:33","slug":"northern-territory-mining-sector","status":"publish","type":"post","link":"https:\/\/globalroadtechnology.com\/northern-territory-mining-sector\/","title":{"rendered":"The Northern Territory Targets a $40 Billion Resource Industry"},"content":{"rendered":"

The Northern Territory Government recently announced that its mining and resource industry is valued at $6.2 billion, a milestone in achieving its $40 billion economic target. <\/span>The NT resource industry received a boost from the $74.4 million expenditure in mineral exploration for the September 2023 quarter.<\/span><\/p>\n

According to NT Chief Minister Eva Lawler, a substantial and diversified economy will generate revenue for investment in Territory priorities such as secure energy supply, health, education, housing, and infrastructure.\u00a0<\/span><\/p>\n

\u201cThe government is sending a clear message to investors that the Territory is a world-class destination for mining and that the resources needed for low-emission technologies are available,\u201d she said.<\/span><\/p>\n

As part of its efforts to attract more investment in the sector, the Territory Government has released an updated guide to Critical Minerals in the Northern Territory.\u00a0<\/span>The guide outlines the Territory’s critical minerals in high demand worldwide.\u00a0<\/span><\/p>\n

The critical minerals list has grown from 15 to 17, with gallium and graphite added to it following recent discoveries of these vital minerals in the Territory.<\/span><\/p>\n

The government will also implement a Territory-wide Social License campaign to reinforce the regulatory environment’s rigour in the Territory.\u00a0<\/span>According to NT Minister for Mining Mark Monaghan, the government must work with the industry to inform Territorians about the impact of mining and resources in the Territory.\u00a0<\/span><\/p>\n

\u201cThe government has an important role in building trust with the regulator to fulfil its responsibilities to do right by Territorians,\u201d he added.\u00a0<\/span><\/p>\n

 <\/p>\n

South Australia Bridges the Gulf to a Green Steel Future<\/span><\/h2>\n

The South Australian Government is interested in collaborating with businesses to explore the development of a hydrogen-based direct reduction iron (DRI) plant.\u00a0<\/span>The aim is to determine the necessary industrial precincts and infrastructure required to make green iron and steel investment less risky in South Australia.<\/span><\/p>\n

South Australian Premier Peter Malinauskas said that the world needs steel, and as it moves towards decarbonisation, it will require more value-added green iron and steel.\u00a0<\/span><\/p>\n

\u201cThe Upper Spencer Gulf has the essential elements for a DRI plant, including a vast magnetite resource and, soon, a supply of renewable hydrogen that comes from the region’s remarkable wind and solar resources,\u201d he said.\u00a0<\/span><\/p>\n

The South Australian Government wants to establish the DRI plant before the end of this decade, as it is an alternative to using coal-fired furnaces to convert iron ore to steel.\u00a0<\/span>DRI plants use renewable sources, such as hydrogen, to reduce emissions from the iron smelting process by up to 95%.<\/span><\/p>\n

South Australian Mining Minister Tom Koutsantonis said, \u201cSouth Australia has a tremendous opportunity to grow the state’s wealth by promoting green re-industrialisation, including critical minerals like copper and green iron and steel.\u201d<\/span><\/p>\n

\u201cThe government is actively seeking to collaborate with industry partners to ensure that South Australia is the best place for investors to do business,\u201d he added.\u00a0<\/span>Expressions of interest in the partnership will be accepted starting in June.<\/span><\/p>\n

 <\/p>\n

Alcoa Makes a $3.4 Billion Bid for Alumina<\/span><\/h2>\n

Alumina Limited has announced today that it will support an exclusive takeover bid from its joint-venture partner, Alcoa.\u00a0<\/span>The deal is worth $3.4 billion and will see Alcoa acquire 100% of Alumina through a scheme of arrangement.\u00a0<\/span><\/p>\n

In exchange, shareholders will receive 0.02854 shares of Alcoa common stock for each Alumina share.\u00a0<\/span>This proposal sets the price of Alumina at a 13.1% premium from its share price on February 23, and a 19.5% premium based on the average exchange ratio over the past year.\u00a0<\/span><\/p>\n

The two parties have already established a transaction process and exclusivity deed, and Alcoa has been granted a 20-business day period of exclusivity to negotiate an implementation agreement. <\/span>Alumina has recommended that its shareholders vote in favour of the deal, which is the result of a series of earlier offers from Alcoa.\u00a0<\/span><\/p>\n

Alumina Limited owns 40% of Alcoa World and Alumina Chemicals (AWAC), and the two companies have been linked since 1961.\u00a0<\/span>The AWAC joint venture has a global network of assets, including bauxite mines and alumina refineries in Australia, Brazil, Spain, Saudi Arabia, and Guinea.\u00a0<\/span><\/p>\n

AWAC also holds a 55% interest in the Portland aluminium smelter in Victoria, Australia.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Dust suppression is a critical issue in the world of mining and resources.<\/strong><\/p>\n

Learn more about GRT\u2019s industry-leading and IoT-connected\u00a0SMART Dosing Units<\/a>, and discover how we\u2019re driving better dust suppression solutions for all!<\/strong><\/p>\n

If you\u2019d like to talk with an expert, simply\u00a0contact us<\/a>!<\/strong><\/p>\n

Your feedback is important to us.\u00a0<\/strong><\/p>\n

If you enjoyed reading this Global Road Technology industry update and found it informative, please let us know by leaving a\u00a0REVIEW<\/a><\/strong><\/p>\n

 <\/p>\n

References:<\/span><\/h2>\n

https:\/\/createsend.com\/t\/t-93311EF19F38726A2540EF23F30FEDED<\/span><\/a><\/p>\n

https:\/\/www.premier.sa.gov.au\/media-releases\/news-items\/global-call-to-arms-for-sas-push-to-decarbonise-iron<\/span><\/a><\/p>\n

https:\/\/s2.listcorp.com\/asx\/awc\/alumina-limited\/news\/alumina-and-alcoa-enter-into-exclusivity-deed-2998391.pdf<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Northern Territory Government recently announced that its mining and resource industry is valued at $6.2 billion, a milestone in […]<\/p>\n","protected":false},"author":5,"featured_media":78913,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[115],"tags":[],"class_list":["post-81794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-articles"],"yoast_head":"\nNorthern Territory Mining Sector Valued At $6.2 Billion<\/title>\n<meta name=\"description\" content=\"Northern Territory Mining Sector: A thriving $6.2B mining sector. 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