Budget Paper No.6 1997/98 Northern Territory Economy
Tabled Paper 3223
Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
Strong investment growth has been a significant feature of the Territorys mining industry in recent years. Capital expenditure in 1995-96 increased 53% on the level recorded for 1994-95 to $167.7 million. Significant developments contributing to this increase were investments in gold, base metals and other commodities. In 1995-96 gold investment included the construction of the Brocks Creek mine, expansion of the Tanami gold mines and the upgrade at Mount Todd. Base metal investments were at McArthur River and Woodcutters. Further investment growth can be expected, with significant planned developments including the Laminaria/Corallina oil fields and four new mines. The success of continued increases in exploration activity will also impact on future capital expenditure. Nationally, mining is a highly capital intensive activity, with employment levels being low relative to other sectors of the economy. Only 1.1% of all employed persons in Australia are employed by the industry, despite its 4.2% contribution to GDP in 1994-95. In the Northern Territory this capital intensity is just as pronounced; 4.1% of all persons employed in the Territory contributed 16.5% of GSP in 1994-95. Data reported by the Australian Bureau of Statistics shows that in 1995-96 approximately 85.3% of the Territory mining industrys value added was accounted for by Gross Operating Surplus 0 400 800 1 200 1 600 2 000 2 400 2 800 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97* 1997-98# 1998-99# Mineral and Energy Production and Processing Energy Minerals $ million Source: Dept. of Mines and Energy * DME estimate, # DME forecast Figure 8.1 Mining 41