News

Economic News from Darwin – 13 March 2017

2017-03-10 NT News: It’s all about the gas

Gas demand from manufacturing has doubled in the past 2 years while Australian LNG production is on track to become the biggest exporter of liquefied natural gas.

2017-03-10 NT News: Ticking clock for LNG plant

The outcome of a federal review of the petroleum resources rent tax could determine the fate of … the Darwin LNG plant. ConocoPhillips Australia Business Unit-West president Chris Wilson said the PRRT would be critical for the $10 billion Barossa Project to keep the Darwin LNG plant operational for the next 20 years. Without Barossa, DLNG could be closed in 2021. “The Barossa Project is unique as potentially the only Australian LNG project on the horizon. Its success is integral to the continued operation of DLNG, which supports over 1,300 direct jobs and thousands more indirectly and requires a new gas source in 2022. The Barossa Project would keep DLNG operating, employ a significant construction workforce, pay more than $5 billion in company tax and significant additional PRRT payments as commodity prices recover.” The development of the Barossa Project is to fill the void left by Bayu Undan.

2017-03-10 Australian Mining: Thousands of mining jobs on the way for the NT

The Northern Territory Government has signed Project Facilitation Agreements (PFA) for two mining projects, set to bring more than 2000 jobs to the territory… Australian metals company TNG for the location to develop the TIVAN metals refinery as part of its Mount Peake vanadium-titanium-iron project. The high technology refinery will produce high purity products from the Mount Peake vanadium-titanium-iron deposit, located 235km NW of Alice Springs…
“This is a $850 million project with potential for 500 jobs during construction and more than 200 jobs during operation of the mine, plus more than 1,200 jobs during construction and 400 jobs during operation of the refinery”. Mount Peake’s is expected to produce 17,560 tonnes of vanadium pentoxide, 236,000 tonnes of titanium dioxide (pigment) and 637,000 tonnes of iron ore for export annually. The PFA signing comes after Mount Peake received a Major Project Status and TNG managing director Paul Burton said it was another milestone as toward its development. “The TIVAN refinery is a value-added downstream process which we expect will bring significant economic benefits to Darwin and the Northern Territory and help to enhance the region’s position as the development hub for Northern Australia.” TNG is conducting an Environmental Impact Study for the refinery this year.
NT Government also granted Verdant Minerals a Major Project Status and a PFA for its Ammaroo phosphate project. The $750 million project, approximately 180km SE of Tennant Creek, is set to provide nearly 500 jobs during construction and operation… Verdant Minerals managing director Chris Tziolis… “The development of Ammaroo and other fertiliser mineral projects in the Territory could in time enable the value adding to the minerals to produce finished fertiliser products to service demand in both Asia and Australia, which now imports most of its fertiliser needs.” Under the PFA, Verdant and the NT Government will collaborate to progress the project through the its approvals process, with an Environmental Impact Statement due later this year.

2017-03-10 NT News: Resource projects

Verdant Minerals managing director Chris Tziolis said there was also potential downstream production for the production of fertilisers.
“The development of Ammaroo and other fertiliser mineral projects in the Territory could in time enable the value adding to the minerals to produce finished fertiliser products to service demand in both Asia and Australia, which now imports most of its fertiliser.”

2017-03-09 ABC News:
Second shipment of Australian buffalo sent to Indonesia since 2011

The most recent shipment of 195 buffalo was sent from Darwin Port in February, destined for an Indonesian feedlot… Northern Territory Buffalo Industry Council vice president Michael Swart
expected buffalo exports to Indonesia to develop slowly for the near future, and eventually reach about 4,000 to 5,000 head per year.

2017-03-07 Beef Central: Live cattle shipments set to grow

ABARES predicts cattle exports to increase to 950,000 head in 2017-18. Shipments are expected to gradually increase to a level around 1.05 million head in 2021-22.

2017-03-06 Beef Central: Hancock extends NT supply chain network

Gina Rinehart’s Hancock Prospecting has added another piece to its Northern Territory beef supply chain jigsaw puzzle, outlaying about $24 million to secure a large grazing holding southwest of Katherine to use as a depot facility for live exports out of Darwin.

2017-03-09 Tourism NT Industry Update: NT wins travel award in China

The Northern Territory has been named 'The Best International Potential Destination 2016' in the 'Top Spots' category at the recent China Travelers' Forum.

2017-03-09 NT News: Hotel prices head south

Darwin’s accommodation prices have dropped by 8% over the past year – the 2nd highest drop in the country, the latest Hotels.com Hotel Price Index shows. Australians paid an average of $150 per night for a stay in Darwin last year, down from $163 in 2015, while international visitors paid only $137. At the same time as the drop in room prices, Tourism NT figures show there has been an increase in people visiting the Top End, up 22% in the year ending Sept’16.

2017-03 Darwin International Airport: Preliminary Draft Master Plan

Airport activities currently support 1,800 workers (1,500 FTEs), which is 1.3% of the Territory’s workforce. Commercial and aviation activities contribute $270 million a year to GSP, which is 1.2% of the NT’s GSP. Air access is critical to the Territory’s tourism industry, supporting 5,000 jobs and an estimated $500 million a year contribution to the NT economy. Projected growth: In the next 20 years, DIA expects passengers through the airport to increase from 2 to 6 million, the number of jobs supported by airport businesses to rise to 3,000 and contribution to GSP to double… The airport is a key hub between Australia and Asia, it has no curfew and operates 24/7. It has capacity to grow. It is a joint-user facility with the Department of Defence.



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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