2017-02-25 NT News: Renters still looking to live in lap of luxury
Despite the Inpex wind down, the demand for luxury rental properties remains high in the Territory’s capital, according to local real estate agents… According to rent.com.au, the Darwin rental property market experienced an overall 8.24% increase in the asking median rent to $460 per week in January from $425 per week in December 2016. The 8.24% increase was the sharpest rise across the country and makes Darwin the second most expensive city for renters, right under Sydney metro which averages $550 per week… Darwin was the only city which saw the improvement in the number of days properties were listed on market, taking on average 33 days to lease.
2017-02-23 Property Observer: Vacancy Rates
January 2017: Darwin: 3.7%
2017-02-17: LNG Industry:
INPEX holds naming ceremonies for Ichthys LNG offshore facilities
Australian Minister for Foreign Affairs, the Hon. Julie Bishop MP, officially named the project’s central processing facility Ichthys Explorer. The ceremony was held at the Samsung Heavy Industries (SHI) shipyard. (It) is the world’s largest semi-submersible platform… Meanwhile, the former Chief Minister of the Northern Territory of Australia, the Hon. Clare Martin, officially named the project’s floating production, storage and offloading vessel, Ichthys Venturer. This ceremony was held at the Daewoo Shipbuilding & Marine Engineering shipyard. Most liquids will be transferred from the Ichthys Explorer to the 336m long Ichthys Venturer for offshore processing and condensate offloading. Toshiaki Kitamura, the President and CEO of INPEX, …
“Our Project’s two gigantic floating facilities will be located in the Ichthys gas-condensate field, located about 220 km offshore Western Australia, for 40 years of continuous operation, setting new benchmarks for durability.”
2017-02-22 NT News: Billion-dollar rare earth project takes another step forward
A supplementary environmental report for a $1.19 billion rare earths mine north of Alice Springs has been lodged with the NTEPA. The lodgement represents a significant milestone in Arafura Resource’s Nolans Project. Arafura plans to mine, concentrate and chemically process rare earths at the Nolans site, 135km north-northwest of Alice Springs. The project is estimated to create up to 500 jobs in the 2-to-3 year construction phase, and employ a peak workforce of 300 in the operation phase, which is expected to exceed 40 years. Construction is estimated to cost $866 million at Nolans, including an estimated $145 million in the Territory and $70 million in Central Australia. It is expected to cost $188 million a year to operate.
2017-02-20 Mining Journal: TNG forges ahead with Mount Peake
TNG is in the final permitting stages and pre-engineering stages for the Mount Peake mine and its proprietary Tivan hydrometallurgical processing plant in the NT… TNG managing director Paul Burton: Tivan is the proprietary process that allows us to extract the vanadium, titanium and iron in high purities from a titano-magnetite ore… The vanadium storage battery market is expected to grow significantly on a global basis. Because of its size, aging power infrastructure and focus on green energy, Australia represents a prime opportunity for this industry.
2017-02-23 Straits Times:
Aussie sandalwood growers can cash in now after 15-year wait
The trees are maturing just as prices soar amid a production shortfall from the biggest producer India and rising demand from China. A kilogram of Indian sandalwood oil now sells for about US$3,000, or about 5 times as much as silver, and prices are rising by at least 20 to 25% a year… That makes the mature trees on the Australian plantations run by TFS Corp and KKR & Co-backed Santanol Group worth about US$1,500 apiece…
Global demand for sandalwood is set to gain 5-fold to 20,000 tonnes of wood a year in the decade to 2025, according to TFS, the largest plantation operator in Australia. China will account for half of the increase, where it is used in traditional medicines, handicrafts and fragrances…
TFS plans to raise output thirtyfold to 10,000 tonnes of timber a year from its 12,000ha of plantations in northern Australia… Biggest growth in demand will come from pharmaceuticals.
2017-02-23 ABC Rural:
Indonesia increases weight limit for imported Australian cattle.
The weight limit has been increased from 350 kilograms to 450 kilograms, in a move that will be of huge benefit to northern Australia's cattle industry.
Board members announced for Northern Australia Cooperative Research Centre
A$75 million Cooperative Research Centre for Developing Northern Australia is responsible for attracting beneficial research projects to the region…The federal government has called for applications for the CRC for the A$3 million project funding round (which) will support short-term, industry-led research collaborations to develop new technologies, products and services that address industry issues and deliver tangible outcomes for northern Australia.
2017-02-16 Hansard: Minister McCarthy
Northern Territory and Japanese governments recently signed a memorandum for cooperation on 13 January… Under the MOC the Department of Primary Industry and Resources and the Japanese Minister for Agriculture, Fisheries and Forestry, will work together to develop a master plan to jointly realise commercial opportunities in agriculture and aquaculture sectors, and in the development of supply chain logistics in the Northern Territory.
This master plan will set out short, medium and long-term outcomes. In providing strong research and development for the horticulture industry, we will also focus on a number of areas. One of those is working with NT farmers to investigate which high value commodities are in high demand in Asian markets, and to map the supply chain logistics.
2017-02-24 The Australian: Darwin Port banks on near Asia siting
Landbridge recently invested $11 million for upgrading container cold-storage facilities at Darwin Port to support growth in AACo’s boxed-beef export business and other commodities… AACo ships 70-80 containers a month but he (Darwin Port Chief Executive Terry O’Connor) expects that to ‘double or triple’ soon… He cites Darwin Port’s location as its main asset… “We’ve got the infrastructure to support the biggest cruise ships in the world.”
2017-02 Darwin Airport: Darwin International Airport at a glance
2.5 million airport passengers in 2015/16. 6,500 passengers arrive or depart each day; over 2,000-person workforce, Australia’s nearest airport to Asia with direct connections to major cities in Singapore, Malaysia and Indonesia…. The airport has invested a further $73 million, expanding its capacity by 50% to cater for the future growth of Darwin and the Northern Territory.
2017-02-24 The Australian: Melville aims to be ‘oil and gas gateway’
One of the nation’s newest sea bases, AusGroup’s Port Melville, expects to add fuel sales to its woodchip exports… AusGroup describes its port as “the gateway to the economic development of the Tiwi Islands and the oil and gas industry in the Bonaparte Basin’’. The port is 100 kilometres north of Darwin.
2017-02-23 Economic Brief: Private New Capital Expenditure Dec Qtr 2016
Trend private new capital expenditure in the Territory increased by 5.3% to $1.4 billion in the December quarter 2016… The NT recorded the highest quarterly increase, equal with the ACT.
2017-02-23 Economic Brief: Average Weekly Full Time Earnings November 2016
In the 6 months to November 2016, the trend AWFTE in the Territory was $1792. This was the 2nd highest level of all the jurisdictions, behind Western Australia ($1797). (Nationally: $1592).
2017-02-22 Economic Brief: Construction Work Done December quarter 2016
In the December quarter 2016, trend engineering construction work increased by 1.6%.
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