NT and Indonesia strengthen economic and trade ties
The Northern Territory Government and Republic of Indonesia have signed a Memorandum of Understanding to strengthen collaboration on critical mineral and strategic material supply chains.
Formalised at the Australian Indonesian Business Council in Sydney, the agreement is the first of its kind between any Australian jurisdiction and Indonesia.
The five-year agreement is designed to establish a collaborative framework that promotes sustainable development and economic growth, fostering mutual benefits for both the Northern Territory and Indonesia.
The Northen Territory has a strong pipeline of emerging mining projects in non-ferrous metals, critical minerals, and precious metals for the advanced manufacturing of batteries, semiconductors and renewable energy technologies.
Indonesia is one of the Territory’s closest neighbours and is an important economic and strategic partner for local businesses.
The agreement seeks to capitalise on the Northern Territory’s status as an emerging critical minerals powerhouse and reinforces the regions strong partnership potential, as Indonesia progresses its ambition to become a Southeast Asian hub for electric vehicle manufacturing.
Highlights of the agreement include:
- promoting opportunities for critical mineral investment
- encouraging joint studies, exploration, and development of processing and refinery
- collaborating on adopting and promoting sustainable and responsible mining practices
- facilitating a skills development program through education and training.
The agreement recognise mutual interest in nurturing strong and diverse energy supply chains, strengthening trade and investment links, and supporting respective national objectives in critical minerals processing between Indonesia and the Northern Territory.
