Territory Stories

The Northern Territory news Wed 5 Sep 2012



The Northern Territory news Wed 5 Sep 2012

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NT news


The Northern Territory news; NewspaperNT




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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

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Nationwide News Pty. Limited

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Copyright. Made available by the publisher under licence.

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Nationwide News Pty. Limited



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24 NT NEWS. Wednesday, September 5, 2012. www.ntnews.com.au P U B : N T N E W S D A T E : 5 -S E P -2 0 1 2 P A G E : 2 4 C O L O R : C M Y K BUSINESS WEEK l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l l ntnews.com.au Coolant gas hike hits NT businesses FromPage 23 The Climate Change Department did not say if there would be a direct levy on imported seafood to level the playing field. Commercial airconditioning company Blizzard Air and Refrigeration said compliance costs which are difficult to measure would increase for the gasses. Its now liquid gold, business owner Gavin Pocock said. It might be a target for theft. Supermarkets, pubs and trucking firms that transport refrigerated goods have also been hit. Hotelier Mick Burns invited media to Crocosaurus Cove to tell them his crocodile farm costs would increase by hundreds of thousands of dollars a year thanks to costs associated with the carbon tax. He later clarified this to say that the cost increase was across all his businesses, and that running pubs in the Northern Territory incurred high airconditioning and refrigeration costs which would soar. Heatcraft was also careful not to mention the carbon tax in its email to customers about the increase in gas prices. The Australian Competition and Consumer Commission (ACCC) has been tasked to investigate businesses that overstate the impact of the carbon price and can issue fines of $6600 or take court action with a maximum penalty of $1.1 million per breach. Owe-no! Wages high but debt up By ALISON BEVEGE Theres a disconnect betweenwhats being built and what peoplewant to live in RISING family incomes in the Territory have improved housing affordability, despite mortgage sizes growing to the second highest in the nation, new figures show. Median weekly family incomes in the Territory have risen to the highest in the nation at $2368 per week, according to an affordability report by the Housing Industry Association. But Territory loan sizes have ballooned out to an average of $346,195 the second highest in the nation after New South Wales at $357,000, bringing weekly average loan repayments to $587, the report found. The HIA report found the proportion of Territory household income needed to meet loan repayments fell 0.6 percentage points to 22.9 per cent in the June quarter, making it the second most affordable jurisdiction in which to buy a home. Housing Industry Association regional director NT Robert Harding said their advice was for young people to be wary of the commitment of a large mortgage, despite the income rise. They need to allow for a couple of percentage point movements in interest rates, he said. Even though right now the Reserve Bank is leaving rates on hold, with a bias for cutting thanks to uncertainty in the global economy, people needed to re member rates were now at historic lows, he said. The report said first home buyers borrowed an average of $319,467. Bendigo and Adelaide Bank funded the report and general manager of third party lending Damian Percy said Bendigo Bank customers were expressing difficulty in obtaining development finance. People are coming looking for ways to create more family-friendly accommodation in Darwin, he said. Theres a disconnect between whats being built and what people want to live in. There appears to be an assumption that the growth of population brought about by development will be single blokes in apartments. Economics professor Steve Keen, who has been following the collapse of housing debt in southern states, said for house prices to continue to rise, new mortgage lending had to also continue rising. Theres a limit to how far this can go, he said. Xstrata McArthur River Mining has taken first place in the firefighting division of the annual mine rescue competition Picture: LINDA YOUNG Xstrata on fire at safety comp TERRITORY zinc miner Xstrata McArthur River Mining has taken first place in the firefighting division of a mine safety competition. The scenario set teams to respond to a blaze at a crash site with an unknown number of casualties at the 2012 Northern Australian Emergency Response Competition held at Hidden Valley Raceway on the weekend. Xstrata also won first place in the Road Accident Rescue section. Team manager Gary Taylor said he was proud of his teams win, but more important than trophies was the learning experience. It shows where we sit in industry standards in regards to safety, he said. The team of seven and three support crew flew from McArthur River Mine to compete against a BHP Billiton team from Queenslands Cannington mine, a WA outfit from Rio Tintos Argyle diamond mine and fellow Territorians from Newmonts Tanami gold mine in Central Australia. Newmonts Tanami Operations won the Underground Search and Rescue division and also took out Best Individual Skills thanks to the efforts of Horst Lushington. Scenarios tested rescuers ability to respond to emergencies including a sulphuric acid spill, an unknown accident in thick opaque smoke, vertical rescue of workers trapped on an elevated platform, and cyclone devastation. BHP claimed the Overall Team Winner trophy for the second year. Resources Week attracts heavy hitters OIL, gas and mining industry leaders will flock to Darwin as the Territory gears up for NT Resources Week. The peak gathering of the oil and gas industry, the South East Asia Australian Offshore Conference, is to be held at the Darwin Convention Centre in tandem with the Mining the Territory event from September 18. More than 800 captains of industry including chief executives, directors, mine managers and analysts will attend. Speakers at the two events will include Santos vice president Asia Pacific Martyn Eames, Inpex president director Australia Seiya Ito, ConocoPhillips Australia West president Todd Creeger and Armour Energy managing director Phil McNamara, and GDF SUEZ Bonaparte general manager Jean-Francois Letellier. From September 18 to 20 at the Darwin Convention Centre. Visit www.ntre sourcesweek.com.au