Have your say on mineral royalty scheme review

22 June 2023

The Northern Territory Government wants the best deal for Territorians when it comes to the economic gains generated through mining.

As such, a change to the way mineral royalties are collected in the Territory, is being considered.

Northern Territory Government established the Mineral Development Taskforce (MDT) in 2021 to identify and investigate opportunities to accelerate investment in new mining projects.

In April 2023 MDT released its final report, and a key recommendation was to replace the Territory’s current profit-based royalty scheme with an ad valorem scheme that is simple, competitive, and modern.

The public is now invited to have a say in the future of the scheme.

A Have Your Say page is being launched today to provide interested parties the opportunity to download the consultation paper and provide feedback.

Feedback and input from a wide range of stakeholders will inform the final design of an ad valorem royalty scheme, to then be considered by Government.

Visit www.haveyoursay.nt.gov.au

Feedback is welcome until COB 4 August 2023.

Quotes attributable to Minister for Mining and Industry, Nicole Manison:

“Mining is one of the key drivers of the Northern Territory economy and we must stay contemporary and competitive to attract more new mining investment.

Royalties are the biggest source of revenue collected by the Northern Territory, and we want the best deal not only on the amount of royalties but also the economic benefits mining generates throughout the Territory, especially in our regional and remote areas.

The Territory has abundant natural resources, including 15 of the critical minerals the world needs to tackle climate change, and the geological potential for a further 13.

Right now, we are in a position to set our course for a mining industry that is not only profitable to the Northern Territory economy, but also supports the energy transition to renewables.”

Northern Territory Government