Article – Australia’s Northern Territory ideal for mining opportunities31 May 2016
22 April 2016
Emirates News Agency
Australia’s richest person Gina Rinehart said, the untapped and undiscovered lands of northern Australia is one of the world’s “last great development opportunities.”
Rinehart said the Northern Territory has massive potential as it is majorly untapped, while its proximity “on the doorstep” of Asia specifies potential investment from prime Asian firms.
“This area is not only very friendly, but unique, and does indeed represent one of the world’s last great development opportunities of scale and it does this all within one of the world’s most highly developed countries on the very doorsteps of flourishing Asia,” said, Rinehart.
Rinehart urged for endowment in the province, saying that now is the time for local and foreign companies to make the switch from depending on the mining boom to endowing in the territory’s hugely local resources.
“The Territory has more than 200 trillion cubic feet of gas,” Rinehart said. “Potentially enough gas to power Australia for more than 200 years.”
Interim the Northern Territory’s deputy Chief Minister Peter Styles said pursuing to develop healthy tradebonds to Asian countries like China and Japan are keys in seeking growth in the development sector.
Styles said, “For the next century we believe that the Northern Australia, with its untapped 17 million hectares of arable soil, 40 percent of the Australian land mass, around 60 percent of Australia’s rainfall and of course 90 percent of Australia’s gas reserves, will drive Australia’s prosperity.”
Courtesy of Emirates News Agency