Business bulletin: 28 March 2024

The mining and resource industry plays a vital role in the Northern Territory and will continue to play one as we head towards a renewable energy and net zero emission future.

It employs more than 5000 Territorians directly, supports hundreds of small businesses across our regions.

The industry is also key to the Northern Territory’s economic target of $40 billion by 2030.

This is why it is vital the NT Government works with industry, stakeholders and the community to ensure a responsible mining and resources industry in the Territory.

Government must work with Industry to keep Territorians informed about the impact the sector has in their lives, as well as how the Government applies regulation with rigour and transparency. This is critical to secure support for the resources sector if investment is to continue in the Northern Territory.

Earlier this month the Department of Industry, Tourism and Trade launched a social licence campaign to make sure Territorians know that the NT Government is working with industry to achieve a sustainable future, and to provide informative and factual content about the importance of the sector for Territorians.

To find out more about the campaign go to the Territory Resources website.

The Northern Government and Paspalis Corporation have partnered on a new investment opportunity for domestic and international businesses wanting to establish a presence in the Territory.

Both the Territory Government and Paspalis have co-invested $10 million, with a total of $20 million in funding available.

The Paspalis Co-Investment Fund will be available to companies that have a distinct presence in the Territory and are looking to grow, expand and create new jobs.

The fund will focus on enhancing industries such as advanced manufacturing, logistics and defence, technology, mining and exploration, space and primary industries.

This new alliance builds on Paspalis establishing the Northern Territory’s first venture capital fund in 2018.

Since then Paspalis has established an additional 5 funds and invested in a portfolio of high quality investee companies, including SP33D3D, Amphibian Aerospace Industries, and a Singapore based space tech company which is working to enable small satellites to fly closer to earth.

Paspalis CEO Harley Paroulakis said ‘we have great confidence in the North and are prepared to put our relationship and capital back into it. The Northern Territory has been an important part of history, and we want to remain an important part of its future.'

Paspalis is open for business, and we welcome any funding enquiries from exciting companies with strong leadership looking to do business in the Northern Territory.'

For more information and to apply to the Paspalis Co-Investment Fund please visit the Paspalis website.

Territorians are encouraged to nominate outstanding individuals and organisations that have demonstrated excellence within the vocational education and training sector, for this year’s NT Training Awards.

Now in its 69th year, the NT Training Awards celebrates and recognises the achievements of our local businesses, training organisations, apprentices, trainees, trainers and students.

This includes apprentices and trainees who have excelled in their studies over the past 12 months and, employers and training providers who have positively contributed to the Territory’s vocational education and training sector.

Last year’s finalists represented a wide range of industries including health, conservation, electro technology, mechanical, mining, beauty services, cookery, fitness, early childhood, business and IT.

There are 12 award categories – 7 individual and 5 business categories.

Individual categories:

• Aboriginal and Torres Strait Islander Student of the Year
• Austin Asche Apprentice of the Year
• School-based Apprentice or Trainee of the Year
• Trainee of the Year
• VET in Schools Student of the Year
• VET Teacher / Trainer of the Year
• Vocational Student of the Year

Business categories:

• Industry Collaboration of the Year
• Large Employer of the Year
• Large Training Provider of the Year
• Small Employer of the Year
• Small Training Provider of the Year

Winners will be announced at the gala awards dinner on Saturday 31 August in Darwin, with eligible category winners progressing to the Australian Training Awards.

Nominations close midday ACST Friday 17 May, for details find out about NT Training Awards.

Caption: The solar panels installed with help from a Territory Government’s Smarter Business Solutions program.

A remote store, cafe, service station and campground has used a Territory Government grant to reduce its energy costs.

Ti Tree Food Barn, 195 kilometres north of Alice Springs, was helped under the popular Smarter Business Solutions program to install a 32.76kW solar PV system and 45kWh lithium battery bank.

The system, which was installed by local contractor Hills Electrical and Solar, cost nearly $134,000.

Annual electricity consumption is about 80,661kWh at a cost of $2000 per month.

The new solar PV system is expected to generate about 96 percent of the average annual daytime electricity use or about 76 percent of the total annual consumption.

This means the solar system will pay for itself in about 4.2 years.

Ti Tree Food Barn manager Hannes Rosslee said: 'The solar grant has helped us to keep our power on during power outages, saving us a lot of time and money.

'We can now keep the store open and operating during these times for the community’s convenience, as well as not having to lose and dispose of food that would have been wasted in an outage.'

He said the solar set-up enabled the business to save 60 percent a year in power costs.

'The grant was easy to apply for.'

Territory businesses, Aboriginal enterprises and not-for-profit organisations can get help to reduce day-to-day energy, water, waste and material costs through the Smarter Business Solutions program.

The program offers different types of support including:

• advice on efficient technologies and practices
• a walk-through site survey to identify potential savings opportunities
• grants to encourage and support cost savings or initiatives – up to 50 percent of the cost for efficiency improvements to a maximum of $20,000; up to 20 percent for the installation of off-grid renewable energy systems to a maximum of $20,000; and up to 10 percent for the installation of on-grid renewable energy systems to a maximum of $10,000.

For more information, visit the Northern Territory Government website.

The online Business Support Guide has recently been updated with the latest information to benefit Territory business.

Designed to help navigate the extensive range of support and funding available across government and non-government organisations, this comprehensive guide offers the latest information and funding opportunities available to Territory businesses at every stage of their journey.

Acting Director North - Territory Engagement & Delivery team, Vanessa Carusi, said 'This is a great resource that provides information on a range of grant programs and helps identify the types of support a business can access. It’s comprehensive, up to date and easy to navigate.'

A variety of industry sectors are catered for in the guide, including creative industries, tourism, agribusiness, space and defence, civil and construction, mining and energy, advanced manufacturing, and human services.

Businesses are encouraged to reach out to one of the department’s local Small Business Champions. They can provide tailored on-the-ground support, networks, information, tools and resources.

To access the online NT Business Support Guide and explore resources for your business go to the Northern Territory Government website or contact the team on 1800 193 111 or via email at businessinfo@nt.gov.au.