News

2017-04-18 Property Observer: Vacancy Rates March 2017: SQM Research

Darwin: 3.5%. Unit rents were down1.1%.

2017-04-20 Australian Mining: NT Govt considers 2nd train at Darwin LNG facility

Northern Territory Government is investing $250,000 in a $625,000 feasibility study to assess potential of developing a 2nd LNG train at ConocoPhillips’ Darwin LNG facility. NTG will provide 40%... with the rest provided by ConocoPhillips and upstream resource owners in Evans Shoal, Caldita-Barossa, Poseidon, Cash Maple and Bonaparte LNG (Petrel Tern). NT chief minister Michael Gunner said the 2nd train would represent a new development in Australia’s off-shore industry… “this is a significant investment towards the business case for potential expansion at Darwin LNG, potentially creating thousands of jobs during construction and operation”… the 1st train created approx. 2,500 jobs during construction and more than 8,500 subcontracts/ purchase orders… the facility directly supports more than 250 local jobs and provides more than $100 million pa in supply and service opportunities.

2017-04-20 ABC News: gas pipeline being considered by Federal Government,

The Government has already promised a feasibility study into a pipeline from the Northern Territory to Moomba in South Australia.

2017-04-20 E&P: ConocoPhillips could move Northern Australia Gas on proposed Transcontinental Line

ConocoPhillips will consider diverting natural gas from fields in northern Australia along a proposed transcontinental pipeline that would link directly to markets in the southeast, a senior executive told Reuters… The U.S. oil major is also leaning towards developing the Barossa gas field offshore northern Australia, with a final decision due in the first quarter of 2018… Kayleen Ewin, the company's vice president for sustainability, communications and external affairs, said
the proposed transcontinental line would open Australia's domestic market for northern producers. The system would carry natural gas from the Northern Territory to Moomba in South Australia, the hub for gas to the country's main south-eastern markets.

2017-04-12 NT News: Timor oil deal to open a door for the Territory

Darwin will be used as a logistic hub for a Queensland company which has signed a landmark onshore oil and gas deal in East Timor… Timor Resources Holdings has secured a 50% interest in two onshore blocks, as part of a production sharing contract with Autoridade Nacional do Petróleo e Minerais, a government authority of East Timor. It will commence operations transporting equipment and senior management through Darwin in the next few months. It is the first time in more than 40 years that an independent company has secured such rights. Timor Resources managing director Suellen Osborne said successful exploration discovery in East Timor, located 475km north of Darwin, could open much bigger opportunities.

2017-04 Territory Q: Beetaloo shale gas exploration

The Beetaloo Basin, about 500kms south of Darwin, holds vast shale gas resources… Amungee well drilled at a depth of almost 2.5kms… returned an average of 1.1Mcf of gas per day…. Origin estimates Beetaloo has as much as 61Tcf recognised as a contingent reserve.

2017-04-21 ABC News: Copper-zinc drilling kicks off at Mount Hardy under base metal newcomer Todd River Resources

Newly listed Todd River Resources has kicked off its copper-zinc drilling project at Mount Hardy. The company has a total of 14 projects in the Northern Territory including large led-zinc project Manburrum, close to the WA border near Kununurra, as well as a copper-zinc project near the McArthur River mine. "The focus in all the projects is zinc and copper."

2017-04-19 ABC News:
Construction to begin on Australia's first heavy rare earths mine near Halls Creek

Northern Minerals will immediately start construction on a pilot processing plant for its rare earths project, SE of Halls Creek near the WA/NT border. Known as the Browns Range Project, it will be Australia's first heavy rare earths mine, with a focus on producing dysprosium, a chemical element mostly used in magnets for electric vehicles. The construction period for the project is 11 months, with production due to start in mid-2018. The project has a capital cost of $56 million and the pilot plant is expected to operate for an initial period of 3 years.

2017-04-18 Department of Defence: 6th Rotation of United States Marines Arrive

During the 6-month rotation, the Marines will conduct approximately 10 major exercises and engage a range of regional countries, including China, Indonesia, Japan, and New Zealand. The MRF-D is part of the United States Force Posture Initiatives, which also includes the Enhanced Air Cooperation initiative. The EAC commenced in February 2017 with 12 US Air Force F-22s conducting training activities from RAAF Base Tindal.

2017-04-21 Courier Mail: Piñata Farms’ sweet Northern Territory growth

Piñata Farms will continue to expand its Northern Territory operations after a successful mango growing season… Last year the family-owned company… planted a further 20,000 trees in the NT… another 11,000 would be planted this year, ready for full production in 2024.

2017-04-15 NT News: Mango farm goldmines

A surge of interest in the horticulture industry has seen 5 Top End commercial-scale mango farms sold... Colliers International’s National director of transaction services for agribusiness Tim Altschwager… “There is quite a bit of interest in horticulture assets not only just in the Top End but around Australia … if it has scale it will sell.” Value rates were generally between $20,000 to $30,000 per planted hectare. Mangoes are predominantly grown in the NT and Queensland, which combined, produce around 95% of the total national crop.

2017-04-13 InvestinAustralia:
Research opens up opportunities for African mahogany industry

A project to optimise value from African mahogany plantations has become the first Territory project to attract forest wood products industry R&D funding... (to) be completed by June 2020. Department of Primary Industry and Resources Principal Research Scientist Dr Mila Bristow said plantation forestry was an increasingly important industry and the 2nd largest production land use in the NT after cattle grazing, with more than 49,500ha currently used to produce forestry products in managed plantations… “even a 10% improvement in productivity from management systems developed by the project would deliver an additional $15 million each year”… Dr Bristow said African mahogany has been grown commercially in the NT since 2006 to produce wood products for high value markets. “Industry estimates that African mahogany plantations (alone) will have a projected value of $150 million by 2019.”

2017-04-19 NT News: New meat facility opens markets for the NT

HOLCO’S new $5 million Winnellie facility… has allowed the company to capture the defence and mining sectors… Its storage capacity at the new facility has quadrupled from 120 to 500 pallets of chilled and frozen meat.

2017-04-11 ABC Rural:
Indonesian feedlot co-owned by CPC starts importing Northern Territory buffalo

A feedlot in Indonesia, 80% owned by the Consolidated Pastoral Company has started importing buffalo from the Northern Territory again… “we've taken nearly 200 buffalo from Darwin over to Indonesia as a trial, and so far so good”… Buffalo for the Juang Jaya Abdi Alam feedlot in Lampung's first consignment were mostly sourced from a farm near Darwin, but some were harvested from the wild… CPC chief executive Troy Setter: “several years ago Indonesia was a good market for a couple of 1,000 head of buffalo a year out of northern Australia, and I don't see why it can't get back to that again."

2017-04 Territory Q: Darwin Convention Centre

The Darwin Convention Centre… passed the $33 million a year delegate spend in 2016.

2017-04 Territory Q: Nautilus takes off in the NT

Helicopter charter company Nautilus Aviation is spreading its “rotary wings” in the NT Territory… It acquired Darwin-based Helifish in mid-2016… (and there is a ) new training school which is based at the MKT airfield at Noonamah on the outskirts of Darwin.

2017-04 Territory Q: World-class education on offer in the NT

International education and training is the NT’s 10th largest export industry… Charles Darwin University and Menzies School of Health Research is leading the industry’s growth.

2017-04-20 The Australian: no work visa job change here

Australia’s work visa reforms will not change the list of occupations Northern Territory businesses can sponsor under the hard fought NT Designated Area Migration Agreement.

2017-04-12 Deloitte Access Economics:
What’s over the horizon for the Northern Territory?

Hendri Mentz, Deloitte NT Managing Partner… “The Territory economy has magnificent growth potential for the long haul, but our small size makes us more volatile” … The rise of Asia is underpinning a matching rise in the Northern Territory’s own economy, drawing on the Top End’s considerable strengths in farming and tourism.

2017-04-18 Economic Brief: Deloitte Access Economics March quarter 2017

DAE estimates the NT economy to grow by 1.9% in 2016-17 (nationally 2.1%). DAE forecasts the NT economy to grow by an average of 3.0% pa over the 5 years to 2020-21, the 2nd highest economic growth forecast of all jurisdictions behind Qld (3.4% pa), (nationally 2.7%). NT growth supported by international goods exports, which are forecast to increase by an average of 13.6% pa and private consumption, forecast to increase by an average of 2.3% pa.
DAE expects Territory employment to increase by 3.2% in 2016-17. Between 2016-17 and 2020-21, employment in the Territory is forecast to grow on average by 1.8% pa, representing the strongest growth of all jurisdictions (nationally 1.4%).
NT’s unemployment rate is forecast to average 3.7% over 5 years to 2020-21 (equal to ACT), compared to 5.6% nationally. DAE estimates the Territory population will grow by 0.5% in 2016-17. Over the next 5 years, NT’s population to grow by an average rate of 1.1% pa, compared to average of 1.5% pa nationally.
DAE expects the Darwin CPI to grow by 0.3% in 2016-17 and by an average of 1.5% pa over the 5 years (nationally, 2.1%).

2017-04-13 Economic Brief: Labour Force March 2017

Trend resident employment in the NT increased by 0.6% to 141,544 persons, the highest increase of all jurisdictions. Trend unemployment rate was 3.5% in the month, the lowest of all jurisdictions. The trend participation rate was 78.5%, the highest of all jurisdictions.

 

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.

2017-04-09 NT News: First homeowner grant raising demand

The Northern Territory real estate market is continuing to show signs of resurgence as newly released data reveals year-on-year buyer demand is up 24.5%.

2017-04-03 Property Wire: Property prices up in all Australian capital cities

Month on month the highest rise was in Darwin and Hobart with growth of 3.1%.

2017-04-07 NT News: Inpex workforce to linger

A substantial construction workforce will remain on the $50 billion Inpex LNG project into 2018…
Construction and commissioning of the 2nd LNG processing train and other ancillary scopes is scheduled to continue into 2018. The current production well drilling campaign is scheduled to continue into 2019.

2017-04-09 ABC Lateline: Minister for Resources & Northern Australia Matt Canavan

Gas resources in the Territory… a great potential to grow the Northern Territory economy...
What it really potentially bodes well for the Territory is a way and means to develop their own energy security, to potentially develop their own manufacturing industry… we're also investing $100 million across northern Australia to research what exists below us, including the groundwater resources, which will be so crucial to any gas development in the Territory.

2017-04-07 ABC News: Top End abattoir applies to access Chinese beef market

The owner of the Northern Territory's Livingstone Beef abattoir says it hopes to soon sell meat to China, capitalising on increased market access… Australian Agricultural Company’s Managing director Jason Strong said the industry had been focused on China for some years, with the free trade agreement paving the way. "Any increase in market access for beef is a great opportunity… and China has been a fantastic market for us over the last few years.”

2017-04-05 AFMA: Northern Prawn Fishery banana prawn bonanza!

The Northern Prawn Fishery 2017 banana prawn season has got off to a great start with catches some of the best for several years.

2017-04-04 NT News: $1.5b prawn farm gets Bynoe tick

One of the world’s largest prawn farms is another key step closer to becoming a reality in the Northern Territory. Just weeks after the Northern Territory Environmental Protection Authority recommended approval of Project Sea Dragon Pty Ltd’s proposed Legune Station facility, near the WA border, it has completed its assessment of the proposed Bynoe Harbour facilities… Seafarms Group Limited executive director Dr Chris Mitchell said it was another step toward obtaining approvals and permission needed for the prawn aquaculture project to go ahead and provide jobs and economic opportunities for residents in Dundee Beach and Darwin.

2017-04-07 NT News: Territory high on list for airlines

Australian airlines have proven they have confidence in the Northern Territory by putting on almost 900 additional flights in 2016 compared to the year prior… Darwin International Airport, Ayers Rock Airport and Alice Springs Airport saw a combined 5.82% increase in the number of passengers arriving and departing compared to 2015.

2017-04-07 Charles Darwin University rankings

2017’s Times Higher Education Young University Ranking Top 200 under 50: CDU is 34th, and 5th in Australia, and 1st for the Innovative Research Universities. 2017’s Times Higher Education Top 50 Gen Y Universities: CDU is 11th, and 4th in Australia.

2017-04-05 NT News: Overseas student push

A high-level delegation of international education agents… has given Darwin the thumbs up as a potential growth market. 11 countries make up the delegation which visited all CDU facilities, Essington International School and International College of Advanced Education. The increasing international student market currently contributes $81 million and 450 jobs to the NT economy. There are 2319 international students currently studying in the Territory… This is a significant step towards the Territory getting a greater share of Australia’s international students. There has been double digit growth here over the past 9 to 10 years.

2017-03-31 Media Release: Federal plan for jobs and investment in the NT

NT and Queensland sign agreement to allow NAIF funds to flow once applications are assessed.. 14% of NAIF project inquiries are from the NT. Ministers from all 3 States and Territories, and the Commonwealth, will meet mid-year for a dedicated Joint Ministerial Forum on Developing the North.

2017-04-03 Economic Brief: Retail Trade February 2017

The Territory reported the equal highest monthly growth in retail trade (0.3%), equal to South Australia.

 

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.

2017-03-31 NT News: Now’s the time to buy

4 in 5 Territorians think 2017 is the best time to buy a house… The statistics, released in a new report commissioned by LocalAgentFinder, showed Territorians were the second most positive state in terms of buying a house, following closely behind Western Australia.

2017-04-01 Upstream Petroleum: Evans Shoal field returns to fold

The large Shell-operated Evans Shoal gas field off northern Australia is coming back into the liquefied natural gas fold after several years of hibernation… The field contains 8 trillion cubic feet of gas in place, but has a very high carbon dioxide content of 28% which continues to act as a barrier to development.
Earlier this month, Italian major and partner Eni brought the field back into consciousness by including Evans Shoal on its future projects list… Eni has said in the recent past that Evans Shoal “can be developed as a standalone LNG development or as supply into the Darwin LNG plant”. The joint venture owners are Shell on 32.5%, Eni on 32.5%, Petronas Carigali on 25% and Osaka Gas on 10%.

2017-04-01 NT News: Feds take closer look at gas plan

Federal Government has agreed to a feasibility study on a $1-billion north-south gas pipeline.

2017-03-30 Australian Mining:
Major project status awarded to NT’s Jervois project, more than 600 jobs to come

The Territory government awarded KGL Resources’ Jervois copper-silver-gold project a major project status... for the $190 million project, approximately 270km northeast of Alice Springs. The project is expected to create 360 jobs during construction and 300 ongoing jobs once operational, over its more than 12-year life.

2017-03-27 Media Release: $23 million facilities project to support ADF capability

Minister for Defence Personnel Dan Tehan today announced a $23 million infrastructure project to benefit Queensland, New South Wales and Northern Territory… The project is part of the Enhanced Gap Crossing capability.

2017-03-29 NT News: Northern Australia

Northern Australia - spanning all of the Northern Territory and north of the Tropic of Capricorn in Queensland and Western Australia — covers 3 million square kilometres. According to Deloitte Access Economics, the north will account for nearly 42% of the Australian economy by 2040, up from 35% in 2011.
The north’s gross regional product will increase by an average of 3% every year from 2020. One of those projects contributing will be the $50 billion Inpex project, which will be exporting gas to Japan through Darwin for the next 40 years once it starts to flow… Total capital expenditure across northern jurisdictions - WA, NT and Qld - has risen to around twice the level of investment across the rest of Australia over the last 3 years. This has little to do with the commitment of government but more the size of the opportunities are too enticing to ignore. North Australia accounts for 21.1% of Australia’s exports.

2017-04.01 NT News: Northern Australia Infrastructure Fund

Federal Resources and Northern Australia Minister Matthew Canavan… said they had received over 100 different inquiries, with 50 of them currently active. “There are about 5 projects that are close to financial close at the moment, about 14% of projects from the Northern Territory.”

2017-04-01 NT News: Strengthening NT’s bond with India

Her Excellency Harinder Sidhu the Australian High Commissioner to India visited NT Parliament House… “There has always been a relationship between India and the Northern Territory but there’s an opportunity now to build the relationship and investment. I met with CDU who already have a large number of Indian students and we had a conversation about how to deepen that relationship.” More than 3,000 people have come from India and now call the NT home.

2017-03-29 NT News: China flights a priority to develop business

Rizhao Bureau of Commerce director Li Yidong was part of the delegation that included the Mayor of Rizhao, Li Taodong, that did a tour of the NT… Mr Yidong - who has been to the NT 4 times - says the air connection is a priority. “We hope to establish a direct flight to the major cities from Darwin”
He said the agreement signed between Chinese premier Li Keqiang to expand the chilled beef market access from 11 exporters to all eligible Australian exporters could benefit the NT. “In 1 year there has been great changes at the Port. The refrigerated container site and the $11 million for the infrastructure investment is very helpful for Australian products. We saw the farms. We saw the cattle and the procedures for the abattoir (AACo’s Livingstone plant). I think… business between China companies and Australia will be more.”

2017-03-24 Australian:
Australian trade and investment to benefit from Belt and Road

Australia’s far north is a natural fulcrum from which it can leverage its relationships with key trading markets in Asia to capitalise on China’s rise as a dominant global economy. China’s little-known proposal to include Australia’s northern development plan in its ambitious One Belt, One Road Initiative will facilitate this process…
Northern Australia’s proximity to Asian markets that are forecast to account for an estimated ⅔ of the global middle class by 2030 makes it a logical destination to include in One Belt, One Road. Darwin is just 3 to 5 hours’ flying time from Southeast Asia and southern China, and it operates in similar time zones to the key Asian markets. It could benefit significantly from the investment that inclusion in One Belt, One Road could bring.

2017-03-29 NT News: Territory Tourism Flying

Over the past 3 years, the NT has seen a 69% increase in visitor numbers and an 80% increase in spending. NT has had the biggest growth in overnight visitors in the past year compared to every other state and territory around Australia.
The number of domestic overnight visitors to the NT increased by 18% to 1.5 million in the past year... Tourism employs around 15,500 workers across the Territory… The average tourist spent $1,400 for their visit to the NT, compared to an average $677 for everywhere else.

2017-03-29 Economic Brief: Engineering Construction Activity Dec Qtr 2016

In the year to December 2016, the value of engineering construction work commenced in the Territory continued to strengthen from last quarter and recorded a 26.8% increase to $989 million. Public sector work commenced increased by 66.3%, to $406. The increase largely reflects works commenced on telecommunications, which more than doubled in 2016 to $174 million, as well as increases in works commenced on roads, highways and subdivisions.
Private sector work commenced also increased, up 8.8% to $583 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.

 

2016-04-21 Economic Brief: APM House and Unit Prices March Quarter 2016

Median house price in Darwin: $613,118 (behind Sydney, Melbourne and Canberra). Median unit price increased by 14.9% to $493,746 - second highest median unit price behind Sydney.

2016-04-18 Economic Brief: Deloitte Access Economics March quarter 2016

The Northern Territory is expected to have the 3rd highest economic growth of all jurisdictions in 2015-16… estimated to grow by 2.7%. The outlook is for the Territory economy to grow by an average of 3.2% pa over the 5 years to 2019-20… the 2nd highest economic growth forecast of all jurisdictions behind Queensland (3.5% pa) (DAE forecasts the national economy to grow by an average annual rate of 2.6% over that period)

DAE notes that exports are expected to replace the construction phase of resource development as the key driver of Territory economic growth over the medium term. Territory economic growth over the next 5 years to 2019-20 is expected to be supported by: international goods exports which are forecast to increase by an average of 11.7% pa.

2015-16 to 2019-20, employment in the NT is forecast to grow on average by 1.5% pa… the NT’s unemployment rate is forecast to average 4.5% over the 5 years to 2019-20, compared to 5.9% nationally, (the lowest average annual unemployment rate of all jurisdictions). DAE forecasts the Darwin CPI growth to strengthen to 2.2% by 2019-20.

2016-04-27 Gastech News: INPEX sees positive growth for LNG in Japan

Yutaka Inoue, General Manager Oil & Gas Business, Gas Business Unit at INPEX: “Ichthys LNG Project, of which we are the Operator, is the first, large-scale LNG project to be operated by a Japanese company. It is a competitive, liquid-rich project with a life expectancy of 40 years, with an annual production capacity volume of 8.9 million tons of LNG. We expect this project will play a key role in our mission of delivering a stable and efficient supply of energy to Japan. From a medium-to-long-term perspective, we will ensure that our key projects like Ichthys, Abadi and the ADCO Onshore Concession are solidly developed or operated, while continuing to invest in new business opportunities to ensure sustainable growth.”

2016-04-19 NT News: Land of opportunity

Gina Rinehart pitches Territory… “This area… does indeed represent one of the world’s last great development opportunities of scale… We will see Asian connectivity as a key driver to Northern Australia growth. There is amazing potential for the discovery and development of new resources in this geological region.”

2016-04-21 The Australian: Feds ready for $5bn northern scheme

The federal government is moving fast on its plans to develop high-value agriculture in northern Australia, with Resources, Energy and Northern Australia Minister Josh Frydenberg ready to distribute the first funds from $5 billion Northern Australia Infrastructure Fund harnessing the abundant “untapped’’ water in northern Australia would be a key focus of the government’s first spending initiatives... priorities (such) as building dams and irrigation schemes on the Victoria and Roper rivers in the Northern Territory. Raising the height of the dam wall of vast Lake Argyle, which supplies the Ord irrigation scheme centred on Kununurra… is also part of the government’s grand plan for northern Australia.

2016-04-20 Minister Frydenberg: Global Food Forum: Australia's Place at the Table

“Our proximity to markets in Asia presents us with considerable opportunities over other agricultural producers. We are right on the doorstep of the booming middle-class in Asia. As some of you may be aware, Darwin is closer to Singapore than it is to Sydney and closer to Jakarta than it is to Melbourne, so there are huge opportunities, particularly for our north.”

2016-04-25 ABC Rural: Tropical Forestry Services begins 1,200 hectares of Indian sandalwood plantings in the Northern Territory

TFS is expecting to plant around 1,200 hectares of sandalwood this year across its properties in the Douglas Daly and Katherine regions… The seedlings being planted at Mustang Hill came from TFS's $3.5 million nursery opened in Katherine last month.

2016-04-21 Northern CRC Interim Chair Jon Wharton: Northern CRC taking shape

Northern Australian Cooperative Research Centre will be formally launched in late June… the CRC would kick-off with a $75M commitment from the federal government over 10 years but financial and in-kind contributions from industry research partners could produce a combined research spend of up to $200M…

“Project applicants need to contribute $ per $ funding or make in-kind contributions to research projects… Townsville and Darwin ports are just sitting there ready to go so we need to be moving these products out of those ports. Gone are the days where we sent everything back down to Brisbane – that’s the old way and this is the new way.”

2016-04-27 NT News: Marines size up China

US defence spending in Australia is expected to top more than $2.5 billion over the next few years, with the bulk expected to be spent in the Territory.

2016-04-19 news.com.au: Top military commander says US military on track to grow its presence in Northern Australia

Lieutenant Colonel Steven Sutey, commander of this year’s annual Marine Rotational Force Darwin, says the US military is “on track” to grow its numbers in northern Australia… this year’s force was the 3rd battalion-sized group to come to Darwin… “This rotation will bring different capabilities than previous rotations… we’re also bringing with us additional logistic and engineer capabilities that will allow us to expand out training and operations down here in Australia.”

2016-04-22 NT News: Fund an Australian first

A $1 billion infrastructure development fund established by the Giles Government will be the first of its kind in Australia… a pipeline of potential projects had been identified… (they) covered gas, tourism, water and renewable energy… Infrastructure Capital Group (investment manager) expects to open an office in Darwin in the next few months.

2016-04 Regional Australia: bringing small cities into the National Cities Agenda

Population is one of the key drivers of development and growth in Australia… Small cities in Northern Australia top the growth list with a projected population growth rate of over 25% in the next decade.

2016-04-27 Media Release:
Key bilateral talks building strong regional ties with Timor-Leste

Six senior ministers from Timor-Leste arrived in Darwin … led by Minister of State, Coordinating Minister of Economic Affairs & Minister of Agriculture and Fisheries, His Excellency Mr Estanislau da Silva… The NT is the only State or Territory jurisdiction in Australia to host a meeting of this nature with Timor-Leste counterparts who hold national-level portfolios.

2016-04-27 Media Release: International Education Relations

Minister for Education launched the Northern Territory Indonesia Alumni Network… 70 people attended the networking event, including Indonesian ministers and Consul, Indonesian alumni of Northern Territory schools and universities and Territorians who have participated in exchanges to Indonesia over the past 40 years.

2016-04-26 CDU e-news: International education ‘could bring NT $150m’

Charles Darwin University academic has calculated that the Territory’s international education exports could triple to $150 million a year within a decade. Northern Institute political economist Professor Rolf Gerritsen said this would see international education rise to 5th on the list of export earners for the NT, up from its current 10th placing.

“The international education sector is a promising industry for the NT and will grow in importance, both absolutely and relative to other export industries... A more realistic 10% per annum growth rate would be sufficient to triple the international student cohort to about 4,500 by 2024. As an export earner, that would place it behind the natural gas, base metal, tourism and live animal export industries in 5th place, which would more closely reflect the national position, where international education is the largest service sector export… It creates more than 500 (full-time equivalent) jobs in Darwin’s economy, so it is an increasingly important contributor to the NT regional economy.”


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.

2016-04-16 NT News: CoreLogic RP Data

Darwin property values are up this quarter with the median home price sitting at a little over half a million dollars… $575,000, while aspiring unit owners have a median of $460,000… prices rose 2.1% in the month of March and 2.4% for the first quarter of 2016.

2016-04-15 LNG Industry: Ichthys

Speaking at the LNG 18 conference in Perth, Australia, Managing Director of the Ichthys LNG project, Louis Bon, provided an update on the project… “Onshore in Darwin we are more than half way through construction at Bladin Point. We are 81% complete and on target for first production in the third quarter of 2017… The Ichthys joint venture participants have the opportunity to add 4 more production trains fed by Browse Basin and Bonaparte Basin gas, which is now far more accessible because of the Ichthys gas export pipeline.”

2016-04-14 NT Business Review: Defence

Defence infrastructure investment in the Northern Territory over the next 10 years is anticipated to be in the order of $8bn.

2016-04-13 Defence Media Release: Arrival of 5th rotation of US Marines in Darwin

This year’s rotation will include around 1,250 US Marines, a detachment of 4 Bell UH-1Y Venom helicopters and a range of equipment. The Marines will be accommodated within Defence facilities at Robertson Barracks, RAAF Base Darwin and Defence Establishment Berrimah.

2016-04-13 ABC Rural:
Mitsui looks to northern Australia for agribusiness opportunities, including soybeans

Mitsui Australia's vice president Wendy Holdenson said the company had a long history in the Australian resources sector, but the time was now right to further diversify into the food sector. "We believe there's potential to boost live cattle exports from northern Australia to Asia, and in grain and soy we think there's tremendous potential.”

2016-04-11 Sydney University/KPMG Demystifying Chinese investment in Australia

Chinese ODI: Northern Territory has attracted $564.5M of Chinese investment in 2015, placing it ahead of SA, WA and Tasmania for the first time. (NSW: 49%, Vic 34%, Qld 9%, NT 4%, SA 3%, WA 1%)

2016-04-14 NT Business Review: Conventional Tourism

The business events industry is worth an estimated $70 million a year to the NT economy.

2016-04-14 Economic Brief: Labour Force March 2016

The Territory’s trend unemployment rate was 4.5%, and trend participation rate was 73.7%. (nationally 5.8% and 65%).

2016-04-07 Economic Brief: APM House and Unit rents March quarter 2016

Asking rent for houses in Darwin in the March quarter: $550 (highest of the capital cities). Asking rent for units: $450 (2nd highest of all capital cities behind Sydney)

2016-04-07 Property Observer: CoreLogic RP Data rental index March 31, 2016

Yields: Darwin 5.2% (highest capital city yield)

2016-04-09 Sydney Morning Herald:
Inpex Corporation chief sees big future for LNG mega-project

President and chief executive Toshiaki Kitamura has emphasised the "robust" economics of the huge project even at current depressed oil prices. The long-term strategic value of expanding the LNG project near Darwin "remains unchanged", he said. Ichthys LNG, Japan's largest single investment in Australia, is more than 80% built, with production from the 8.9 million tonnes-a-year plant on Darwin Harbour due to commence in the September quarter next year…

"Even looking beyond the 15-year sales and purchase agreements now in place, a long-term, sustained growth in LNG demand in the Asia-Pacific region, and particularly in emerging Asia, will mean that there will continue to be opportunities for the project in the long term…" The capacity of the project has been increased 6% since it was first envisaged, while the offshore Ichthys field in the Browse Basin is also Australia's largest liquids discovery since the Bass Strait fields in the late 1960s, further helping project economics. "An increase in production capacity will increase the opportunities to respond to the wide-ranging requirements of LNG buyers, thereby improving the value of the project,"Mr Kitamura said. He also remains confident of prospects for expansion down the track, with the Darwin site offering enough space to add four LNG processing trains beyond the two under construction. He pointed to "high exploration potential" in Inpex's offshore exploration blocks near the Ichthys field as well as the possibility of a discovery "of commercial proportions" in Inpex's onshore unconventional exploration acreage in the Northern Territory.

2016-04-04 Media Release: landmark talks with ASEAN representatives

Canberra-based Heads of Mission of the Association of South East Asian Nations are visiting the Territory together for the first time, as part of the inaugural Open Territory Program.

2016-04-06 Fruitnet.com: Opportunities for agribusiness in northern Australia

The 2016 CSIRO report ‘Unlocking the potential of northern Australia’… examined the region's soil and found 16m ha of soil suitable for “intensive” agriculture, that could be suitable for more than 70 different crops, including mangoes and melons. The report found a renewed interest in northern Australia due to its proximity to Asia.

2016-04-11 CDU E-news: CDU ranks higher among world’s young unis

Charles Darwin University is continuing to climb the list of the world’s best universities that are less than 50 years old. The Northern Territory’s only university has been listed in joint 31st position in The Times Higher Education “150 Under 50 Rankings 2016”, which identifies the top 150 universities around the world that are aged less than 50 years old… CDU Vice-Chancellor Professor Simon Maddocks: “Not only has CDU risen for the 5th consecutive year, but this year we also have risen 17 points in a larger pool of universities”

2016-04-11 NT News: Marines invasion on way

This year’s rotation will be made up of Marines from the 1st Battalion, 1st Marine Regiment… About 1150 Marines were stationed in the Top End last year and numbers this year are expected to be the same.

2016-04-06 Australian: NT expansion

National Storage REIT has expanded into the Northern Territory, paying $10.75m for a Space Base storage facility within reach of Darwin’s airport with strong exposure to passing traffic.

2016-04-07 Economic Brief: Sensis Business Index March 2016

The Sensis Business Index March 2016 reports that the net balance confidence level of Territory small and medium enterprises their own business prospects over the next 12 months increased by 3 percentage points to +27%...

2016-04-05 Economic Brief: International Exports February 2016

In the year to February 2016, the NT’s top 3 goods exports destinations were Japan ($2.3bn, LNG exports from the Darwin LNG plant), China ($1.1bn, mineral ores) and Thailand ($469M, petroleum products from the Montara Oil Field)



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.

2016-04-07 Economic Brief: APM House and Unit rents March quarter 2016

Asking rent for houses in Darwin in the March quarter: $550 (highest of the capital cities).

Asking rent for units: $450 (2nd highest of all capital cities behind Sydney)

2016-04-07 Property Observer: CoreLogic RP Data rental index March 31, 2016

Yields: Darwin 5.2% (highest capital city yield)

2016-04-09 Sydney Morning Herald:
Inpex Corporation chief sees big future for LNG mega-project

President and chief executive Toshiaki Kitamura has emphasised the "robust" economics of the huge project even at current depressed oil prices. The long-term strategic value of expanding the LNG project near Darwin "remains unchanged", he said. Ichthys LNG, Japan's largest single investment in Australia, is more than 80% built, with production from the 8.9 million tonnes-a-year plant on Darwin Harbour due to commence in the September quarter next year…

"Even looking beyond the 15-year sales and purchase agreements now in place, a long-term, sustained growth in LNG demand in the Asia-Pacific region, and particularly in emerging Asia, will mean that there will continue to be opportunities for the project in the long term…" The capacity of the project has been increased 6% since it was first envisaged, while the offshore Ichthys field in the Browse Basin is also Australia's largest liquids discovery since the Bass Strait fields in the late 1960s, further helping project economics. "An increase in production capacity will increase the opportunities to respond to the wide-ranging requirements of LNG buyers, thereby improving the value of the project," Mr Kitamura said. He also remains confident of prospects for expansion down the track, with the Darwin site offering enough space to add four LNG processing trains beyond the two under construction. He pointed to "high exploration potential" in Inpex's offshore exploration blocks near the Ichthys field as well as the possibility of a discovery "of commercial proportions" in Inpex's onshore unconventional exploration acreage in the Northern Territory.

2016-04-04 Media Release: landmark talks with ASEAN representatives

Canberra-based Heads of Mission of the Association of South East Asian Nations are visiting the Territory together for the first time, as part of the inaugural Open Territory Program.

2016-04-06 Fruitnet.com: Opportunities for agribusiness in northern Australia

The 2016 CSIRO report ‘Unlocking the potential of northern Australia’… examined the region's soil and found 16m ha of soil suitable for “intensive” agriculture, that could be suitable for more than 70 different crops, including mangoes and melons. The report found a renewed interest in northern Australia due to its proximity to Asia.

2016-04-11 CDU E-news: CDU ranks higher among world’s young unis

Charles Darwin University is continuing to climb the list of the world’s best universities that are less than 50 years old. The Northern Territory’s only university has been listed in joint 31st position in The Times Higher Education “150 Under 50 Rankings 2016”, which identifies the top 150 universities around the world that are aged less than 50 years old… CDU Vice-Chancellor Professor Simon Maddocks: “Not only has CDU risen for the 5th consecutive year, but this year we also have risen 17 points in a larger pool of universities”

2016-04-11 NT News: Marines invasion on way

This year’s rotation will be made up of Marines from the 1st Battalion, 1st Marine Regiment… About 1150 Marines were stationed in the Top End last year and numbers this year are expected to be the same.

2016-04-06 Australian: NT expansion

National Storage REIT has expanded into the Northern Territory, paying $10.75m for a Space Base storage facility within reach of Darwin’s airport with strong exposure to passing traffic.

2016-04-07 Economic Brief: Sensis Business Index March 2016

The Sensis Business Index March 2016 reports that the net balance confidence level of Territory small and medium enterprises their own business prospects over the next 12 months increased by 3 percentage points to +27%...

2016-04-05 Economic Brief: International Exports February 2016

In the year to February 2016, the NT’s top 3 goods exports destinations were Japan ($2.3bn, LNG exports from the Darwin LNG plant), China ($1.1bn, mineral ores) and Thailand ($469M, petroleum products from the Montara Oil Field)


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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