Territory Stories

Budget papers 2007 - 2008

Details:

Title

Budget papers 2007 - 2008

Other title

2007/08 Budget paper

Creator

Northern Territory. Department of Treasury

Collection

Northern Territory budget papers; Reports; PublicationNT

Date

2007-05-01

Notes

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Appropriations and expenditures; Periodicals; Budget; Finance, Public

Publisher name

Northern Territory Government

Place of publication

Darwin

Volume

2007/08

File type

application/pdf

Use

Attribution International 4.0 (CC BY 4.0)

Copyright owner

Northern Territory Government

License

https://creativecommons.org/licenses/by/4.0/

Parent handle

https://hdl.handle.net/10070/244905

Citation address

https://hdl.handle.net/10070/591630

Related items

https://hdl.handle.net/10070/591624; https://hdl.handle.net/10070/591625; https://hdl.handle.net/10070/591628; https://hdl.handle.net/10070/591632; https://hdl.handle.net/10070/591634; https://hdl.handle.net/10070/591619; https://hdl.handle.net/10070/591621; https://hdl.handle.net/10070/591623

Page content

8 Northern Territory 007-08 budget Mining and Energy In terms of output, mining is the largest industry in the Territory, accounting for 25 per cent of gross state product (GSP) in 2005-06, compared to 7 per cent nationally. Mining output is volatile as production is dominated by a small number of large projects. Global supply and demand conditions and the impact of exchange rate movements on competitiveness are key factors affecting production levels and prices. In recent years, declining output from the Laminaria-Corallina oilfield in the Timor Sea has been partially offset by increasing gas and condensate production from Bayu-Undan, as well as LNG production at the Wickham Point plant. Mineral production and processing is expected to significantly increase in the next few years, with growth driven largely by increased production of alumina, gold and manganese. Mineral and energy production is estimated to increase by 26.1 per cent to $6.3 billion in 2006-07. More moderate growth of 6.6 per cent is expected for 2007-08. In the medium to long term, the level of exploration is expected to continue to increase, supported by strong commodity prices and Northern Territory Government initiatives. 0 1 2 3 4 5 6 7 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07e 08f Total Energy Minerals Gas and mineral processing 1 $B Year ended June Value of Mining and Energy Production and Processing (nominal dollars) 1 Includes alumina and LNG manufacturing e: estimate; f: forecast Source: Northern Territory Treasury, Department of Business, Economic and Regional Development, Department of Primary Industry, Fisheries and Mines


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