News

2016-08-05 Property Observer, Residex: Darwin houses and units June 2016

Houses Median Value: $533,500. 10 years %pa: 4.37%. Rent month ending June 2016: $545 Units Median Value: $381,500. 10 years %pa: 4.62%. Rent month ending June 2016: $425

2016-08-05 www.newswire.ca: Tassie Shoal LNG project, MEO Australia Limited

Strategic Tassie Shoal Projects proposed for offshore Northern Australia have received updated environmental approvals that extend the approvals period for the LNG Project to 2052, and increase the flexibility to process gas of varying qualities into LNG. The potential Tassie Shoal Projects, comprising 1 LNG plant and 2 methanol plant, are strategically located on a shallow water shoal… approximately 275 km from Darwin, and surrounded by significant discovered but undeveloped high CO2 gas fields.

2016-08-05 Mining Weekly: NT gold mine

Ark Mines plans to start mining at its Mt Porter gold mine, near Pine Creek in the NT, as soon as its mining management plan is approved… Hong Kong registered Chan Investments has agreed to a $6-million loan for the project, which is expected to produce between 23,000 oz and 26,000 oz of gold.

2016-08-03 NT News: Profits in protection

Defence infrastructure projects could grow the size of the Territory economy by as much as 4.7% over the next decade… Master Builders NT has released its second “Capacity to Spare report (2016)” outlining the ability and the impacts of any Defence spend as part of the 2016 Defence White Paper relaced earlier this year… MBA executive director Dave Malone said the construction sector could be boosted by 25%. However, most sectors would benefit from the projected $8 billion in expenditure. “Those investments will potentially touch every sector of commercial construction as Defence looks to upgrade existing facilities, expand capability and accommodate the US rotational forces.”

2016-08-03 NT News: Road map of major needs

Minerals Council executive director Drew Wagner…“The industry contributed around $2.75 billion to the local economy in 2014-15 and accounts for 12% of NT’s Gross State Product. There are around 5,700 Territorians employed in the sector and each of those jobs generates around $656,000 for the economy, on average… Untapped potential in the NT is substantial, with more than a dozen new projects expected to come online in the next 3 to 5 years.”

2016-08-03 Media Release: Woodchip Memorandum

Tiwi Plantations Corporation and Mitsui Bussan Woodchip Oceania Pty Ltd have today signed a woodchip Transaction Memorandum for the supply of 14 vessels, approximately 500,000 green metric tonnes of woodchip, to Japan (Daio) over a three-year period. At today’s prices and exchange rates the total export value, over three years, is in excess of AU $47 million.

2016-08-04 NT News: Westin will operate $250m hotel

Global high-end brand Westin has been named as operator of the $250 million Darwin luxury hotel to be built by Landbridge Group on Waterfront land… The hotel will mark the entry of the Westin brand in the NT... Construction is expected to begin next year for completion by 2020.

2016-08-02 Economic Brief: International Trade June 2016

The Territory's annual total international trade balance was $1.5 billion in 2015-16, represents a year on year increase of $298 million.


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

 

2016-07-25 Economic Brief: CommSec State of the States July 2016

NT was ranked the 4th best performing economy, in terms of overall economic performance, above Queensland, South Australia, Western Australia and Tasmania… NT was ranked 4th in terms of economic growth… NT remains in 1st place for construction work done with the level of construction work in the March quarter 2016 being 42.8% above the decade average level.

2016-07-21 NAB State Update: Northern Territory

Construction of Ichthys LNG project in Darwin has boosted business investment, employment, wages and supported consumer spending… Construction has far and away the largest share of gross value added for any industry. This dependence makes it highly prone to the cyclical movements in the economy but this is offset by the large and reasonably stable public administration and defence presence... Once Ichthys is operational, much of the LNG will be sent under long term contracts in Japan. This will cement Japan’s place as the most important country for Northern Territory Exports.

2016-07-29 Offshore Post: Shell Awards Prelude FLNG Contract

DOF Subsea announced it has been awarded an Inspection, Maintenance and Repair contract by Shell Australia for the Prelude FLNG… operated by Shell in partnership with Inpex (17.5%), KOGAS (10%) and OPIC (5%). The Prelude facility is expected to stay moored for 25 years and should produce 3.6 million tonnes of LNG per year, as well as 1.3 million tonnes of condensate and 40,000 tonnes of LPG for export.

2016-07-29 Thor mining: projects could lead to gold and tungsten mineralisation

Thor Mining plans to drill adjacent to the Molyhil mine in the Northern Territory in Australia to test for tungsten at a cost of about $48M.

2016-07-29 Katherine Times:
Gina Rinehart continues to invest in NT cattle infrastructure

Hancock Prospecting Pty Ltd has announced the acquisition of Phoenix Park, a large-scale export pre-feeding depot located west of Katherine on Florina Road, about 340km from the port of Darwin. The depot covers over 3,443ha of freehold land and is one of the largest fodder irrigation projects in the Katherine area.

2016-07-30 NT News: Katherine tourism

The town played host to 87,693 visitors in 2015-16 financial year, 20,000 more than year prior.

2016-07-29 Media Release: New partnership with Chinese travel company

This MOU will provide the NT with unprecedented access to potential visitors from China. The China Travel Service is one of the largest travel groups in China with 500 branches, and CTS Australia is the largest Chinese travel company in Australia… Over $300,000 has been provided as part of the Tourism Infrastructure Development Fund to assist with China related projects. (e.g.) ATrip NT: Develop/promote Chinese cultural training hub; Australian Tourist Publications to create 48-page ‘Welcome to the Northern Territory’ booklet, ebook and map; Develop a Chinese website, titled ‘Explore the NT’, for Northern Territory tourism operators to promote their products directly to the Chinese market; China Sees NT – Develop a multi-lingual website promoting tourism in the NT and featuring images and video from visitors.


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

2016-07-20 Economic Brief: APM House and Unit prices June quarter 2016

Median house price in Darwin remained at $616,780.

2016-07-20 Rigzone:
Monadelphous Lands Contract from JKC Australia LNG for Ichthys Project

JKC Australia LNG Pty Ltd. awarded the contract to Monadelphous for the latter to provide electrical and instrumentation works for the product loading jetty at the Ichthys Project onshore LNG facilities in Darwin… it was part of four deals, worth $140 million.

2016-07-22 Mining Journal: TNG looks for titanium boost

Emerging vanadium and titanium company TNG will work with US-based TiPMC Solutions to build a presence in the global titanium dioxide supply chain…for titanium products from its proposed billion-dollar Mount Peake vanadium-titanium-iron project in Australia’s Northern Territory. TNG’s 2015 definitive feasibility study for Mount Peake highlighted strong potential investment returns from average annual production of 17,560 tonnes per annum of vanadium pentoxide, 236,000tpa TiO2, and 637,000tpa of pig iron over an estimated 17-year initial mine life… TNG has signed binding off-take agreements for 60% of its projected vanadium output with a major Korean group and for its iron products with Singapore-based Gunvor.

2016-07-19 Business News WA: Tech firm to buy mining project

IM Medical and Rox Resources have struck a $15 million project deal… to acquire Rox’s 49% interest in the Reward zinc project.

2016-07-22 Media Release: Defence work will create jobs

Australian Defence Force’s appointment of Laing O’Rourke as managing contractor for the planning phase of $500 million in upgrades to the Larrakeyah Base and naval infrastructure facilities… will involve upgrades to current Defence service infrastructure including accommodation, a wharf facility and fuel infrastructure to enhance northern operations… delivery expected to occur between 2018 and mid-2020.

2016-07-21 Department of Defence: Exercise Pitch Black 2016

Exercise Pitch Black 2016 is a 3-week multinational large force employment exercise to be conducted in the Northern Territory from 29 July to 19 August. The exercise will involve up to 2,500 personnel and up to 115 aircraft. … RAAF Darwin will host squadrons from Australia, France (New Caledonia), Indonesia, Singapore, Thailand and United States. Australian, Canadian and United States assets will operate from RAAF Tindal… Exercise Pitch Black is a significant boost for the Northern Territory economy. Pitch Black 2014 contributed $25 million to the local economy and this year’s exercise is expected to exceed that.

2016-07-21 Beef Central: Hancock buys Riveren and Inverway Stations

Gina Rinehart’s Hancock Prospecting is the new owner of the coveted Inverway and Riveren Stations… covering about 550,000ha of land in the southern VRD district west of Katherine, supports a combined herd of about 40,000 head of cattle.

2016-07-14 Beef Central: AACo

MD Jason Strong confirmed that the US was now AACo’s largest single market… the biggest increase by far has come from the manufacturing beef type product out of the Livingstone plant near Darwin.

2016-07-21 The Australian: Sandalwood giant TFS

TFS Corporation, a listed Australian sandalwood company, has successfully refinanced its debt, gaining access to $US50 million of extra funds to continue its plantation expansion across northern Australia… TFS now owns 12,000ha of Indian sandalwood plantations, spread across the WA’s Kimberley in the Ord irrigation scheme, the Katherine-Daly River irrigation zone in the Northern Territory and the Burdekin irrigation scheme south of Townsville. TFS this year harvested 300 tonnes of highly-valuable “heartwood” from its mature sandalwood trees near Kununurra, a tenfold increase on last year’s production.

2016-07-20 ABC Rural: Mango Exports

The mango industry is hoping to double exports to the US this year, with Northern Territory fruit to be sent for the first time… The aim this year is to start in October and have product going into the US for the full four or five months of the Australian mango season. Four Northern Territory businesses, all from the Katherine region, have signed up to export fruit to the US.

2016-07-20 Cabinet Appointments

Minister for Northern Australia Matt Canavan was sworn into his role yesterday and is Northern Australia’s top federal Cabinet representative.


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

2016-07-18 Deloitte Access Economics: June Quarter 2016

The Territory economy is estimated to grow by 3.8% in 2015-16... underpinned by private consumption and international exports. The Territory is expected to have the highest economic growth of all jurisdictions in 2015-16, (nationally, the economy is expected to grow by 3% in 2015-16). The outlook is for the Territory economy to grow by an average of 3.5% pa over the 5 years to 2019-20 (2nd highest economic growth forecast of all jurisdictions behind Queensland 3.6% pa). DAE forecasts the national economy to grow by an average annual rate of 2.8% 2015-16 to 2019-20.

DAE notes that exports are expected to replace construction activity as the key driver of Territory economic growth over the medium term. Territory economic growth over the 5 years to 2019-20 is expected to be supported by: international goods exports, which are forecast to increase by an average of 11.9% pa over the period. DAE expects Territory employment to increase by 1.4% in 2016-17. Between 2015-16 and 2019-20, employment in the NT is forecast to grow on average by 1.5% pa. The Territory’s unemployment rate is forecast to average 4.5% over the 5 years to 2019-20, compared to 5.8% nationally.

2016-07-12 The West Australian: LNG exports hit a record in June

WA exported 1.8mt (27 cargoes) in June, Queensland 1.4mt (22 cargoes) and the NT 0.3mt (5 cargoes) … Northern Territory exports will start growing from late next year when the INPEX Ichthys in Darwin also starts production.

2016-07-11 Sydney Morning Herald: Restart looms

More than two years since work halted on Sherwin's Roper River iron ore project, a buyer from the United Arab Emirates is looking to restart the mine and recommence shipments through the Port of Darwin. The buyer is believed to be Al Rawda Resources Australia.

2016-07-11 Office of Northern Australia: NT Major Projects Conference

8/9 November 2016: Major Infrastructure Projects play a vital role in contributing to the NT’s rapidly expanding economy, which also has the country’s lowest unemployment rate and highest labour force participation rate.

2016-07-11 ADM: More Marines down under

The Pentagon will send another 3-ship Marine Expeditionary Unit to the Asia Pacific as early as October 2018. Head of US Marine Corps Forces Command Lieutenant General John Wissler said the goal is to augment the Marines that currently deploy to the Marine Rotational Force - Darwin on 6 month rotations. About 1,250 Marines are currently stationed in Darwin but as part of the Force Posture Review US and Australian officials hope to boost that number to 2,500 by 2020.

2016-07-18 ABC: Live export cattle prices jump

Live export prices have spiked in the Top End, with a large consignment of Brahman cattle selling for $3.47 per kilogram… Feeder steers to Indonesia (ex-Darwin) have been fetching around $3.30 per kilogram for the past few months.

2016-07-14 Beef Central: AACo previews suite of new beef brands

The new Welltree band, named after an adjunct to AACo’s Labelle aggregation southwest of Darwin appears to be blazing new ground… Product will primarily be derived out of AACo’s Livingstone Beef plant south of Darwin.

2016-07-17 Media Release: Tourism

According to the latest statistics from Tourism Research Australia, in 12 months to March 2016, total combined domestic and international visitors to the NT increased 28% to 1.7 million… 800,000 were holiday makers, a growth of 17% on the previous 12 months.

2016-07-14 Economic Brief: Labour Force June 2016

The NT’s trend unemployment rate was 3.7%, the second lowest unemployment rate of the jurisdictions. Trend participation rate was 74.8% in the month. This remains the highest rate.


Disclaimer

The above information has been compiled by Gwelo (the Agent) from third party providers. The Agent has not verified whether the above information is accurate and does not have any belief one way or the other as to its accuracy. The Agent does no more than pass on the information. The Agent does not accept any responsibility to any person for its accuracy. All interested parties should make and rely upon their own enquiries in order to determine whether or not the information is, in fact, accurate.

12 O’Sullivan Circuit, East Arm NT 0822 +61 08 8943 7300 enquiries@ gwelodevelopments.com.au

Gwelo Developments has built a strong reputation in Darwin since 1975 and the company is well known and respected. Its developments have stood the test of time and been highly innovative and the Gwelo team is a strong team of long established professionals. Skills encompass a full range of construction and project management, commercial developments and residential design providing outstanding home owner, commercial, retail and investor options.

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