Industry News

The Territory Labor Government continues to deliver the Northern Territory’s ambitious response to climate change.

Minister for Environment, Climate Change and Water Security Lauren Moss has tabled the third annual progress report highlighting significant progress made in our commitment to reach net zero emissions by 2050.

The Territory Labor Government has also committed to reducing its operational greenhouse gas emissions by 47% by 2030 - an unprecedented commitment for the Northern Territory Government, recognising the need to lead by example when it comes to emissions reduction and decarbonisation.

The Climate Change Response: Towards 2030 Annual Progress Report outlines key achievements in the past 12 months aimed at reducing greenhouse gas emissions, while pushing towards a 50 per cent renewable energy target by 2030.

Key achievements include:

• Continued progress to increase renewables including the $45 million Darwin-Katherine Battery Energy Storage system, known as the ‘big battery’ with all batteries installed earlier this year

• Continued implementation of the NT Electric Vehicle (EV) Strategy and plan with the uptake of EV’s tripling in the past 12 months with more than 300 electric vehicles registered in the NT

• Invested $5 million to expand the Territory’s hydrogen industry following the release of our NT Renewable Hydrogen Strategy and Renewable Hydrogen Master Plan and the development of the Darwin H2 Hub; and 

• Progressing establishment of the Middle Arm Sustainable Development Precinct, a contemporary precinct targeting renewable energy and energy transition, enabling existing and new industry to reach net zero goals.

The Climate Change Response recognises the opportunities that will come from emissions reduction and the transition to a low carbon future, while growing the economy in a sustainable way.

To learn more and view the latest climate change report visit climatechange.nt.gov.au

Quotes to attribute to Minister for Environment, Climate Change and Water Security Lauren Moss:

“Actions over the past three years have laid strong foundations to enable the Territory to progress economic growth, achieve our decarbonisation objectives and provide a platform to build our net zero future.

“Climate change remains one of the greatest global threats and the Territory Labor Government will continue to drive our transition to a low carbon future and harness opportunities to reduce emissions.

“The work certainly doesn’t stop, and I look forward to releasing further strategies for emissions reduction and climate adaptation for public consultation in the coming months.”

Source: NT Government Newsroom

The Department of Industry, Tourism and Trade (DITT) will be commencing an apprentice and trainee attraction campaign over the coming weeks.

Working with industry, the idea of the campaign is to attract and inspire potential apprentices and engage them in the training and apprenticeship system. The campaign will share short videos showing how other young Territorians, such as participants from DITT Training Awards, took their first steps to ‘build, create, grow’ their own careers.

Using TV ads and social media the campaign will be delivered in two parts commencing this week and into November, with a second burst in late January to early February. The call to action is to drive people to https://nt.gov.au/yourfuture.

Attracting apprentices and trainees is integral to ensuring the Territory maintains a skilled workforce that meets the current and future needs of Territory employers and all sectors.

For more information, click here. 

Follow these links to view to LinkedIn and Facebook campaigns.

Highlights

• During the quarter, Tamboran drilled and cemented the Shenandoah South 1H (SS1H) and Amungee NW 3H (A3H) wells within EP 117 and 98, respectively. The wells were drilled with the H&P super-spec FlexRig® Flex 3 rig and delivered significant improvements in drilling efficiency.

• The SS1H well successfully intersected 90 metres of high quality Mid Velkerri B Shale, the thickest section to date within the Beetaloo Basin depocentre. Logging of the shale formation indicated higher porosity and gas saturation relative to offset wells.

• The A3H well was successfully drilled and cemented in less than 18 days, the fastest well drilled to Total Depth (TD) with a horizontal section into the Mid Velkerri B Shale to date. The well was drilled ~20 days faster and ~30% lower cost than the A2H well from the same pad.

• Tamboran announced a 32 per cent increase in Beetaloo Basin unrisked 2C contingent gas resources to 2.0 TCF following the drilling of the Maverick 1V (M1V) well in EP 136.

• During the quarter, Tamboran signed six Letters of Intent (LOIs) with Australia’s largest gas and energy retailers for 600 – 875 TJ per day (220 – 320 PJ per annum) for up to 10 – 15 years, demonstrating long term domestic demand for Beetaloo Basin gas supplies.

• In October, Tamboran announced the intention to re-domicile to the United States by way of a Scheme of Arrangement (Scheme). Tamboran will remain listed on the ASX via CHESS depositary interests (CDIs) under the TBN ticker. 

• Tamboran commenced Concept Select engineering studies with Wood Group in relation to the Company’s proposed NTLNG development at Middle Arm.

• In September, Tamboran announced the appointments of Ms. Stephanie Reed and Mr. Ryan Dalton as Non-Executive Directors to the Board of Tamboran Resources Limited. 

At 30 September 2023, the Company had a cash balance of A$33.5 million.

To view the full ASX announcement, click here.

Source: Tamboran.com

The Territory Labor Government is investing in new recycling infrastructure projects with a new $1.5 million grant program, Circular Economy NT (CENT) opening for applications today.

CENT supports projects that create opportunities to grow the Territory economy by turning waste into a valuable commodity.

The new grant program was established to support the recycling industry including infrastructure expansions or upgrades to address gaps within the Territory’s waste recycling and reprocessing capabilities.

CENT is focused on building a stronger onshore recycling and manufacturing industry whilst simultaneously addressing the Northern Territory’s regional and remote waste challenges.

Eligible projects include those that create or improve recycling, reuse or remanufacturing of waste currently going to landfill.

The fund aims to prioritise two waste streams: C&D (construction and demolition) and FOGO (food organics and garden organics) but will also accept applications for projects addressing C&I (commercial and industrial) and E-waste (electronic waste including PV Solar Panels).

Projects need to demonstrate economic development opportunities through the development of new domestic markets for recycled materials.

Adopting new approaches to the way we reprocess waste will create significant economic and environmental benefits for all Territorians.

Grants of a minimum of $50,000 are available for approved projects with 50:50
co-contribution required from applicants.

Applications close Friday 5 January 2024 and will be assessed on a competitive basis. For further information and to apply visit nt.gov.au/CENT

Quotes from Minister for Environment, Climate Change and Water Security Lauren Moss:

“The Circular Economy NT (CENT) grant program provides an opportunity for businesses, industry and government to work together to reduce waste and lay a foundation for an efficient and modern recycling industry in the Territory.

“Investing in efficient waste management systems is crucial for the environment and a priority of the Territory Labor Government.

“Proper waste management not only reduces the negative impact on the environment but also helps to cut costs and increase efficiency.”

Source: NT Government Newsroom

The Territory Labor government is backing mining in the Barkly Region, with another milestone reached by Avenira Limited.

Avenira Limited’s Mining Management Plan (MMP) has been approved under the Mining Management Act 2001, authorising mining to commence at the company’s Wonarah Phosphate Project.

The Wonarah Phosphate Project is located 300km east of Tennant Creek and will initially create 25 jobs, increasing to 50 during the Direct Shipping Ore program.

First exports will be for phosphate rock and later exports will supply Avenira Limited’s Lithium Ferro Phosphate (LFP) project at the Middle Arm Sustainable Development Precinct.

Both projects provide significant economic and strategic opportunities for the Northern Territory.

Traditionally, phosphate has been used in agricultural fertiliser and is now in increasing demand for use as a critical mineral in electric vehicles and energy storage batteries.

Avenira Limited signed a Mining Agreement with the Arruwurra Aboriginal Corporation in July, creating pathways to sustainable commercial outcomes and social benefits for Arruwurra’s members.

The agreement will ensure local aboriginal people and businesses are given first consideration for employment or contracting opportunities.

The Authorisation recognises the prior environmental impact assessment and recommendations made in the NT Environment Protection Authority’s Environmental Assessment Report 64.

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

“In huge news for the Territory economy and a big win for jobs in the Barkly - Avenira Limited has met its regulatory obligations and is now authorised to commence mining.

“The Wonarah Phosphate Project further cements the Territory’s reputation as a globally significant hub for resources and critical minerals.

“This is the 9th significant mine approval in the past three years and is further proof the Territory Labor Government is backing our resources industry.

“We have the resources the world needs to transition to net-zero emissions and green energy and we support the projects that make this happen.”

Quotes attributable to Avenira Limited Director, Brett Clark:

“We are delighted the Northern Territory Government has approved our Mining Management Plan.

“This is a crucial step in delivering our mining project, which will provide feedstock for our proposed LFP cathode production plant.

“Completing this project will see Darwin become a key supplier of critical materials to the global battery market.

“The signing of the MMP follows the conclusion recently of formal agreements with our technology partner Aleees, which shows this project is moving forward very positively.”

Source: NT Government Newsroom

The Empire team is pleased to have received this R&D tax offset as it positions us to focus on completing the Pilot Project FID process. We are making material progress on the Pilot Project, advancing:

1. Field Development Planning, including identifying locations for and the design of development wells and surface facilities;
2. Pipeline access negotiations;
3. A formal gas sales marketing process;
4. Regulatory and indigenous approvals; and
5. Planning for project financing.

Empire’s focus is on funding the Pilot Project in a manner that minimizes dilution of shareholder’s interests in the Company. To that end, Empire is discussing potential debt options with lenders and has commenced discussions with parties interested in acquiring a direct working interest in the project in exchange for funding development activities.

We look forward to updating shareholders as these value accretive initiatives progress."

Source: Empire Energy Group

Please click here to read the full announcement.

The Territory and Federal Governments have signed a landmark Skills Agreement for the Northern Territory.

Starting from January next year, the five-year National Skills Agreement (NSA) was developed and agreed to by National Cabinet, and replaces the National Agreement for Skills and Workforce Development (NASWD).

The National Skills Agreement will provide up to $155 million over five years for the Territory skills and training sector. This is around $80 million more than the current NASWD Special Purpose Payments.

The Agreement includes a range of reforms which expand the Territory’s support to further develop our regional and remote communities, and ensure we have the workforce we need.

The NSA is complementary to the reforms underway in skilled migration and will assist in addressing workforce shortages over the longer term in the NT by providing local training opportunities and support the achievement of a $40 billion economy by 2030.

The NT has historically been a major contributor to VET, currently contributing 82% of funding to the sector, well above the national average of 60%.

The NT has the highest levels of student and employer satisfaction including a satisfaction rate of 90% for all government funded VET graduates, 95% for Aboriginal and Torres Strait Islander graduates and 84% for NT employers.

Quotes attributed to Chief Minister, Natasha Fyles:

“Through my Governments work at National Cabinet and skills sector, we have advocated for this $155 million skills deal which will help boost our skilled opportunities and will help meet our workforce shortfall in critical sectors.

“We know how important it is for Territory students to have access to learning and training opportunities and courses. As well as business having access to home grown skilled workers.

“The Territory Labor Government continues to have a large investment in skills, with one of the highest ratio of state allocated government funds for VET.”

Quotes attributed to the Minister for Business, Jobs and Training, Paul Kirby:

“The Territory Labor Government has worked with the Federal Government to show our commitment to skilling Territorians and improving our workforce.

“We need to train people now for the jobs of the future so we are ready to capitalise on projects which continue to bolster our economy.

“In the NT, 92% of VET graduates in the NT were employed and/or continued on to further study after completing their training - well above the national average and the highest result in Australia.”

Quotes attributed to Federal Member for Solomon, Luke Gosling OAM MP:

"This National Skills Agreement, combined with our Fee-Free TAFE places, will mean more aged care workers, more child care workers, more hospitality workers, and more Territorians with the skills that they need, but also the skills that our economy needs."

"This investment is on top of $414 million already committed for the delivery of a nationwide total 300,000 Fee-Free TAFE places from 2024."

“This creates more opportunities for young people, for mature age Territorians, for people living with disability, and for regional and remote learners - as well as improving women’s economic participation and Closing the Gap for Aboriginal Territorians.”

Quotes attributed to Charles Darwin University TAFE Deputy Chief Executive Robert Scherwdt:

“As the Northern Territory’s largest training provider, CDU TAFE is committed to working with the government and industry to develop our skilled workforce and be agile in the changing job market.

“The finalising of this agreement comes at a time when CDU TAFE continues to develop its footprint across the Northern Territory with on-country training, growing our presence in all the regions, and more resources dedicated to responding to the needs of regional and remote communities in and around Central Australia.”

Source: NT Government Newsroom

Joint media release with Trade and Tourism Minister, Senator the Hon Don Farrell.

Trade and Tourism Minister Don Farrell and Resources Minister Madeleine King have welcomed moves by Export Finance Australia (EFA) to join in the financing of Liontown’s Kathleen Valley Lithium project, which will see 500,000 tonnes of exportable lithium produced for markets including Korea and the United States.

EFA is providing $220 million to the project through an export credit agency (ECA) Facility, alongside a syndicate of commercial banks and funders. 

The ECA Facility will also allow for the potential later participation of export credit agency counterparts, the Export-Import Bank of the United States (EXIM) and the Korea Trade Insurance Corporation (K-Sure) in the project, subject to EXIM and K-Sure eligibility criteria and credit and risk requirements being met. 

Minister Farrell welcomed the project and said it was a demonstration of how EFA is financing the sector, working alongside Australia’s international partners. 

“This project will help to diversify global critical mineral supply chains, including through supplying to Korea and the United States,” Minister Farrell said.

“It is another example of how more trade and investment means more jobs for Australian workers.”

The project is expected to create around 800 jobs during construction, and around 600 jobs ongoing. 

Minister King said the investment was significant for Western Australia and showed how the Government was supporting the growing critical minerals industry. 

“The road to net zero runs through Australia’s resources industry,” Minister King said. 

“Australian critical minerals projects are vital to ensuring the world has a stable, reliable source of materials to power the energy transition.

“Global demand for critical minerals needed for electric vehicles and battery technologies is increasing as the world moves to decarbonise, and Australia is key to meeting this demand.”

Provision of EFA finance is subject to all financing conditions and regulatory approvals being met.

Source: 

The Hon Madeleine King MP

Minister for Resources and Minister for Northern Australia

Robust sales revenue, production and free cash flow

• Sales revenue of more than US$1.4 billion in the third quarter.
• Third quarter production of 23.3 mmboe was slightly higher than the prior quarter primarily due to increased crude oil production in PNG.
• Bayu-Undan continuing to produce with at least one more LNG cargo expected, followed by sales into the Australian domestic market until end of field life.
• Free cash flow from operations of around US$470 million in the third quarter and US$1.6 billion year to date.

Strong balance sheet to deliver development projects

• Pikka drilling is progressing with rig operations completed on the first three wells and the fourth well in progress. One well has been stimulated and flowed back for cleanup and data collection.
• Barossa project now 68 per cent complete, excluding Darwin Pipeline Duplication project. Drilling activities remain suspended pending assessment and acceptance of the associated environment plan by the regulator.
• In October Santos notified NOPSEMA that it plans to commence pipelay activities on the Barossa Gas Project after complying with the requirements of the General Direction issued by the regulator.
• In September Santos conducted a debt offering and successfully priced a US$850 million senior unsecured transaction in the US dollar 144A/RegS market.
• Net debt of $4.3 billion and gearing at 19.3 per cent excluding operating leases (22.6 per cent including operating leases) at 30 September 2023.

Santos Energy Solutions focused on decarbonising the energy supply chain

• Moomba CCS project is 75 per cent complete with first injection on track for mid 2024. Moomba CCS is targeting ~US$24 per tonne, lifecycle breakeven which will make it one of the lower cost CCS projects globally.
• The 0.25 tonnes per day Direct Air Capture (DAC) unit arrived in Moomba during the quarter with pre-field trials commissioning work  successfully completed in Perth.

To view the full third quarter report, click here.

To view the full third quarter report data tables, click here.

Source: Santos  

Monadelphous Group Limited (ASX:MND) today announced it has received a letter of intent for a variation to its existing offshore maintenance services contract with INPEX Operations Australia P/L. 

Engineering company Monadelphous Group Limited (ASX: MND) (“Monadelphous” or “the Company”) today announced it has received a letter of intent for a variation to its existing offshore maintenance services contract with INPEX Operations Australia P/L (“INPEX”).

The existing contract includes operational, campaign and shutdown maintenance services and brownfield projects implementation associated with the INPEX-operated Ichthys LNG offshore facilities in the Browse Basin approximately 450 kilometres from Broome, Western Australia and was recently extended by four (4) years (refer to ASX announcement on 4 May 2023).

The variation, which is valued at approximately $75 million per annum, will add to the Company’s scope of work under the existing contract to include the provision of similar services at the INPEX-operated Ichthys LNG onshore processing facilities at Bladin Point in Darwin, Northern Territory. Monadelphous is working closely with INPEX to finalise the terms of the variation. 

to view the full ASX announcement, click here.

Source: Monadelphous Group Limited