Business bulletin: November 2024

The Northern Territory Government has signed a Memorandum of Understanding with the Republic of Indonesia to strengthen collaboration on critical mineral and strategic material supply chains.

Formalised at the Australian Indonesia Business Council in Sydney earlier this month, the agreement is a first of its kind between any Australian jurisdiction and Indonesia.

The agreement is designed to establish a collaborative framework that promotes sustainable development and economic growth, fostering mutual benefit for both the NT and Indonesia.

It also seeks to capitalise on the Northern Territory’s status as an emerging critical minerals powerhouse and reinforces the region’s strong partnership potential, as Indonesia progresses its ambition to become a Southeast Asian hub for electric vehicle manufacturing.

The Northern 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.

The agreement sends a clear message that the Northern Territory is open for business, and we are well placed to advance trade, investment, and strategic partnerships in Southeast Asia.

Highlights in the agreement include:

• promoting opportunities for critical mineral investment
• encouraging joint studies, exploration, and development of processing and refinery technology
• collaborating on adopting and promoting sustainable and responsible mining practices
• facilitating a skills development program through education and training.

The 5-year agreement recognises mutual interest in nurturing strong and diverse energy supply chains, strengthening trade and investment links, and supporting respective national objectives in critical minerals.

Interim Territory Coordinator, Stuart Knowles.

Territorians are encouraged to have their say on the draft Territory Coordinator Bill, which will re-define the way business is done in the Northern Territory.

The Territory Coordinator role is an independent statutory officer responsible for streamlining coordination for projects of significance and enhancing the Territory’s economic competitiveness.

A public discussion paper has been released to help inform the draft Bill. Over the coming months government will consult and refine the draft Bill to be ready for introduction in the February 2025 sittings of Parliament.

The public feedback on the draft Bill will help shape the final functions and powers of the Territory Coordinator, ensuring the office effectively drives development while carefully considering environmental, social, and economic impacts.

The Territory Government has also announced long-term Territorian Stuart Knowles as the interim Territory Coordinator.

Stuart has extensive experience across both private and public sectors and brings a wealth of local knowledge through his deep connections and understanding of the Northern Territory’s unique challenges and opportunities.

As the interim Territory Coordinator, Stuart will work on establishing the office to be ready and up and running by Q2 2025.

All Territorians are encouraged to have their say on this important reform.

Visit the Department of Chief Minister and Cabinet website to review the draft Bill and share your feedback, or email OTC.Consultation@nt.gov.au until 17 January, 2025.

Consultation has commenced on the site of the proposed Darwin Renewable Energy Hub (REH), a project that will play a pivotal role in supplying more affordable, secure, and cleaner energy for households and businesses on the Darwin-Katherine electricity system.

The Hub involves the co-location of up to six large-scale solar farms, capable of generating 180-210 megawatts of renewable energy, alongside a battery energy storage system, all on a single site near existing network infrastructure.

The proposed site is 940 hectares of Crown Land located on the west side of Finn Road, about 19km south of Palmerston and 4km north of Berry Springs. The development area within the proposed site is approximately 500 hectares.

All electricity produced in the Hub will be fed directly into the Darwin-Katherine grid, supplying clean and renewable power to Territory households and businesses.

A comprehensive site selection process was undertaken to identify the most suitable location, with the proposed site identified for industry under the Darwin Regional Land Use Plan.

The consultation process will allow residents, the community, businesses and key stakeholders to obtain information about the project and provide feedback. The final project design and final investment decision will be informed by feedback provided through this consultation process.

Subject to a final investment decision on the project, implementation is expected to run from 2025 to 2030.

Territorians wanting to comment on the proposed site should go to Have Your Say NT website – before 5pm, Friday 28 February 2025

Northern Territory TradeStart Advisor, Iain Forrest

Territory businesses wanting to elevate their exports into new or existing markets can access a network of specialists, who provide tailored advice and support.

There are government support grants and initiatives that can assist companies, especially SME’s in starting or improving their export activities.

TradeStart is an extension of Austrade and brings the Northern Territory into a network of experienced advisors across Australia who provide practical export advice to enterprises to grow their international business.

The TradeStart program in the Territory has been assisting SME’s to develop their exporting journey and capacity for the past 18 months through programs such as the Export Market Development Grant (EMDG) and the Government’s Global Trade Scheme (GTS).

The GTS is a Northern Territory Government program that helps local businesses set up or expand their exporting capabilities. The grant program includes 3 streams of support for businesses that are at the beginning of their export journey, diversifying into exports or wanting to expand or diversify into existing or new international markets.

The EMDG is an Australian Government program that supports small and medium enterprises and their representative bodies to commence, expand and diversify their exports. Support is available to undertake additional marketing and promotional activities and training.

TradeStart Advisors are valuable resources for businesses looking to capitalise on global opportunities while minimising the risks and challenges associated with international trade.

If you’d like to find out more about these programs or other ways to grow your exports, contact the Territory’s TradeStart Advisor Iain Forest at iain.forrest@nt.gov.au or 0439 083 288.

Eight local businesses have proudly represented the Northern Territory at the Australian Export Awards held at Parliament House in Canberra last week.

The Australian Export Awards celebrate the achievements of extraordinary Australian exporters and the far-reaching impact they have on the nation’s economy.

Now in its 62^nd year, the Australian Export Awards is one of the Australia’s longest running business awards program.

This year saw 88 finalists from right around the country progress to the national awards.

The Territory’s 8 finalists, who represent a diverse range of sectors were recognised for their achievements and significant contribution to both the Northern Territory and Australian economy.

Congratulations to our Territory finalists:

• Rum Jungle Meat Exports – Agribusiness, Food and Beverage
• Ikuntji Artists – Creative Industries
• Northern Tide Apparel – Emerging Exporter
• Alana Kaye College – International Education and Training
• Australian Blue Cypress – Manufacturing and Advanced Materials
• Workforce Abundance – Professional Service
• National Feed Company – Regional Exporter
• Philip Agri – Small Business

International two-way trade is an important driver of the Territory’s economy because it catalyses growth in investment, generates new business opportunities and creates local jobs.

Territory exporters make an important contribution to the Territory economy and by supporting them we are enabling more jobs for Territorians and help grow capabilities of our industry.

The Australian Export Awards program is presented by the Australian Trade and Investment Commission in collaboration with State and Territory partners.

The Territory’s most outstanding international students, alumni and local employers have been recognised for their significant contributions to the local community and the economy.

The 2024 Study NT International Student Awards provide an opportunity to celebrate our international students’ impressive accomplishments and contributions to the Territory, as well as the local businesses that employ and mentor them.

This year’s winners are:

• Study NT International Student of the Year – Cong Do Le
• Study NT International Student Alumni of the Year – Hari Sharma
• Study NT International Student Volunteer of the Year – Billy Nafoyo Chepkemoi
• Study NT International Student Employer of the Year - NTEX

Cong, Billy, and Hari have each made significant contributions not only to the Territory’s workforce and economy but also to our community through their volunteer activities with a number of organisations such as Lions International Club and Kindness Shake.

Local business NTEX has also been commended for embracing international students into their workforce and demonstrating the critical role international students play in building our workforce and growing our economy.

The winner of the Study NT International Student of the Year category received a $2,000 cash prize, and the Study NT International Student Alumni of the Year and International Student Volunteer of the Year each received $1,000.