Territory Stories

Budget Paper No.6 1997/98 Northern Territory Economy

Details:

Title

Budget Paper No.6 1997/98 Northern Territory Economy

Other title

Tabled Paper 3223

Collection

Tabled Papers for 7th Assembly 1994 - 1997; Tabled papers; ParliamentNT

Date

1997-04-30

Notes

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.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/289257

Citation address

https://hdl.handle.net/10070/404114

Page content

and royalties collected under Territory legislation. DME data shows direct employment of 4 232 persons in the mining, energy and processing sector in 1995-96. The Northern Territory content of goods and services consumed by the industry is increasing. The Committee on Darwin report (1995) suggests that about 43% of mining enterprises recurrent expenditure now occurs in the Territory, principally in Darwin. Spin-off benefits also accrue from the oil and gas sector. Following on from the Jabiru Venture refit in 1995, major work staged out of Darwin in 1996 included the Challis Maintenance Campaign which was carried out on site in the Timor Sea. The Northern Territory Government secures revenue from royalties levied on a profit basis. Profit based royalties fluctuate from year to year in line with company performance. Estimated royalties to be received in 1996-97 amount to $28 million. A further $1.3 million is expected to be received as grants in lieu of uranium royalties from the Commonwealth. Royalties are forecast to increase to $30 million in 1997-98. 0 200 400 600 800 1 000 1 200 1 400 1 600 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97* 1997-98# 1998-99# Mineral Production and Processing Industrial Minerals Base Metals Manganese Gold Bauxite & Alumina Source: Dept. of Mines and Energy * DME estimate, # DME forecast Figure 8.3 $ million Mining 43


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