Territory Stories

Budget 2013/14 Northern Territory Economy

Details:

Title

Budget 2013/14 Northern Territory Economy

Other title

Tabled paper 295

Collection

Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT

Date

2013-05-14

Description

Tabled by David Tollner

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

Publisher name

Department of the Treasury and Finance

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00866

Parent handle

https://hdl.handle.net/10070/273751

Citation address

https://hdl.handle.net/10070/426369

Page content

132 Mining and Manufacturing 2013-14 Budget completion of infrastructure upgrades at McArthur River and GEMCO in late2013. Minerals Following the completion of expansion activity at the GEMCO refinery, the value of manganese production is forecast to increase by 3.4percent to $1.2billion in 201314. The expansion of the refinery will lead to potential output increasing from 4.2milliontonnes per annum (mtpa) to 4.8mtpa. Features of the current expansion activity include increasing road and port facilities to handle production of 5.9mtpa creating a 1.1mtpa latent capacity for future expansion. Production from the McArthur River mine is forecast to increase by around 39.5percent to $580million in 201314 following the completion of the Phase3 expansion activity in the firsthalf. Gold production is expected to increase by 9.5percent to $379million in 201314, with higher grade ore expected to be mined at Newmonts Granites as well as at the Crocodile Gold deposits. In particular, Crocodile Gold is expected to increase production through its capital investment program, which includes improvements to the Union Reef mill and the purchase of plant and equipment, largely related to infrastructure at Cosmo. In addition to existing operations, Newmont and Crocodile Gold are both exploring a number of other tenements believed to have significant gold reserves. Tanami Gold in the Central Tanami, located in the TanamiDesert, and VistaGolds Mt Todd operations are also continuing progress towards possible commercial production of gold. Gold production is expected to steadily increase to 201617 as higher quality ore is mined from the Granites mine. In 201314, the value of bauxite production in the Territory is forecast to increase by 1.1percent to $272million, close to production capacity. Historically high levels of bauxite production are expected as PacificAluminium focuses operations on bauxite mining and achieving maximum efficiency from the processing facility. Iron ore production from the Frances Creek mine is forecast to remain unchanged in 201314, as longterm contract arrangements with Chinese buyers are expected to maintain Noble Groups levels of production throughout the mines life. Exploration activity currently undertaken may lead to additional iron ore production along with investment in a beneficiation and crushing plant, which could see production increase from 1.5mtpa to 1.8mtpa over coming years. Energy Oil production in the Territory is forecast to peak during 201415 reflecting production at the Montara project operating at capacity for a full year. Production is forecast to decline over the following twoyears to 201617 as the wellhead pressure at the Montara project and Kitan decline substantially and the fields move into natural decline. Additionally, a scheduled maintenance shutdown of the Darwin LNG plant and BayuUndan field during 201415 is expected to reduce energy production. Uranium oxide


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