NTRC welcomes progress on the Inpex project but cautions that the Territory can’t relax.

The announcement that Inpex has moved to the next planning stage with its Darwin plant is great news for the Territory, says NTRC.

“While this may be just another normal phase in the planning for this plant the fact that the project has progressed this far so smoothly gives a great amount of confidence that it is really here” says CEO Scott Perkins.

“When added to other infrastructure projects on the planning board, Inpex construction should go some way towards providing a buffer against the worst of the recessionary pressures that are hammering the economy at the moment”

“Congratulations to Inpex, and well done to all those who showed the commitment and energy to get the project to this important stage” he added.

But there is need for some caution, says the NTRC, as many of the mining jobs that are now disappearing will not translate directly into the construction sector.

“I think we are still going to see a continuation of the general downturn in our industry while commodity prices remain low, so the great times of high activity of the past few years are unlikely to return quickly.”

“For that reason we call on the Government to continue to support development in the resources sector, continue to provide incentives for exploration and to look for new ways to ensure jobs are retained” he said.

“We see tremendous enthusiasm generated for Inpex and we call on all players, Government and non-Government not to relax because Inpex is underway.”

Ends         18 January 2009

For further information call Scott Perkins (Mobile: 0419759040)