MINISTER MADELEINE KING: Thanks Luke in particular. Luke Gosling is, as you all know around here, is the very amazing member for Solomon and has been the member for Solomon for 10 years, doing a really important job fighting for the north, building the north and as Special Envoy for Defence and Veterans’ Affairs but, really importantly, also Northern Australia. He is doing a really fantastic job advocating for the territory and right across the north. Also joining me here today is Assistant Minister Anita Green, Senator for Queensland and Assistant Minister for Tourism, Pacific Island Affairs and also for Northern Australia. And Nita has been – she’s based and lives in Cairns, a Cairns local, and a really important part of the Northern Australia portfolio. Another remarkable advocate for the north. So thanks for being here, Nita. And also Neil (MacDonald), the new CEO of the Northern Australia Infrastructure Facility, that we’re going to talk about in a minute. New leadership taking on new work, and I recognise our outgoing CEO, Craig Doyle, who has also done a fantastic job. Also, we have here Fiona Coulson, the Vice-Chancellor of Charles Darwin University, and Minister Joshua Burgoyne, the minister of many things, but including, very importantly, lands and planning development. I hope I’ve got that name right, Minister. 

So I am really delighted on behalf of the federal government as the Minister for Northern Australia to announce today that the Northern Australia Infrastructure Facility is going to contribute a $70 million dollar loan to the construction of over 400 new beds and student accommodation attached to Charles Darwin University here in Darwin at the Danala campus. A new building will be built behind this magnificent building of CDU, and that will house students that – local students but as well as international students, as well as the refurbishment of a building out at Casuarina. And what that means for the territory and for Darwin is the ability to grow international student numbers in a really sustainable way. To have more students, we need to have them housed properly. But it also takes pressure off the local rental market and other housing right around the community of Darwin and the surrounding suburbs like Palmerston and so forth. With international students comes a lot of income into this great capital city of Darwin through all the things that students buy and students do, as well as the workforce they provide as well. And in the meantime, we have that great opportunity to help educate students from Darwin in particular, but also our near neighbours and in Asia. And Darwin plays that really important gateway role as Australia’s gateway to our north Asian be neighbours and Southeast Asian neighbours, and CDU is a really important part of that story. And at a time when these international relations are so important to our ongoing fuel security and national security, starting those relationships really early through international education is so very vital. And I really congratulate CDU on the work you’re doing here in Darwin and all the universities that do that work right around the country. 

So it’s a great day for the NAIF. Another excellent announcement for the Northern Australia Infrastructure Facility. The facility has invested extensively in the Northern Territory – the Arafura Nolans rare earths project is the centrepiece of our work with the United States and our bilateral framework agreement on critical minerals. And the  Northern Australia Infrastructure Facility has played a vital role in helping to get that project off the ground, which is of such remarkable economic importance to Alice Springs, but not just Alice Springs and not just the Northern Territory, but the whole of Australia. So, at the heart of our nation, the NAIF is playing that really important role along with the resources sector. And investing in housing, as well as we are here today, student accommodation, is just one of the many strings to the remarkable bows of the Northern Australia Infrastructure Facility. So with that, I will hand over to Minister Joshua Burgoyne to say a few words. 

JOSHUA BURGOYNE: Well, thank you very much, Minister King. It’s wonderful to be here today. They say land is the one thing they’re not making any more of, and that is exactly what our government are bringing to the table here today. We are bringing to the table the land that this magnificent structure will be built on. We know here with the new Charles Darwin University campus, we need to ensure that students are able to access it day in, day out. And this campus living and this investment through the NAIF, through the federal government, will ensure that that can happen. We’re very excited through the Northern Territory Government to be working with the Federal Government to deliver economic benefit to the Northern Territory. This is what it’s all about. It’s about ensuring that we can invite students from right across the world here to our capital city in Darwin, to enjoy the wonderful lifestyle that we enjoy here whilst also ensuring that they can finish their studies. I think, as we all stand here today, we’ve seen over a long period of time a lot of investment in the Charles Darwin University campus, and along with that, now this student accommodation will really complement it. It’s fantastic to see the Federal Government, through NAIF, investing in the Northern Territory. We certainly like to say when all eyes head to the north, the Northern Territory is where you want to be. And we’ve just heard about the Arafura rare earths project, which, again, is going to be accepting and has been a proponent that will be receiving that NAIF funding. It’s so important for my hometown of Alice Springs, where I come from, and today, as we stand here in Darwin, once again, we’re seeing such a vital investment to the Charles Darwin University, to the campus accommodation that will ensure that people can come into Darwin’s CBD, really revitalise the CBD of Darwin. We know when we live up in Darwin, a lot of people have been moving into the rural areas. Everyone loves that rural lifestyle. But what we also know is that nothing can beat the capital city of Darwin when you look right across Australia. So it’s wonderful today to be here to obviously thank Minister Madeleine King and thank NAIF, to thank the federal government for this investment. And I also acknowledge the NT government, who are bringing the land to the table so this development can happen. And I’d also just like to throw to Professor Fiona Coulson from Charles Darwin University to speak a bit about what this will mean for the university. 

FIONA COULSON: Thanks, Minister. It’s really exciting to be standing before you today. Charles Darwin University, as Northern Territory’s university, is incredibly proud to be having the announcement of new student purpose-built student accommodation to support both our domestic and international students. It’s going to be located here in the heart of the CBD and right across from this beautiful Danala campus. And I would really like to say thank you to Minister King and Minister Burgoyne and both the federal and territory governments for their continued support for international education here in the Northern Territory. It is vital to our economic and social development here in the Northern Territory. And this accommodation will help us attract more students here. It’s vital to have safe and secure accommodation for our students. And what I am delighted to say is our partners, Campus Living Villages, has designed an incredibly beautiful building – 14 stories, which will be housing 350 students. The finance that is being received from the Northern Australia Infrastructure Facility will also allow an additional 50 beds at our Casuarina campus. So this really does allow us to, one, take pressure off local rental markets, but also at the same time having student accommodation which is purpose-built. And by that I mean it really supports social and community connections, and it helps our students to be successful. It takes the pressure off them so that they can focus on their studies. And we are truly delighted to be partnering with Campus Living Villages and really excited about this. 

MINISTER MADELEINE KING: We’ll first start with any questions about the project itself, first, and I pass to the vice chancellor or [indistinct]. 

JOURNALIST: Two things: is it 350 beds or 400? 

FIONA COULSON: 350 here. 

JOURNALIST: 350 here and 50 – 

FIONA COULSON: And 50 out at Casuarina. 

JOURNALIST: And the $70 million loan, what are the terms of that, how long is s the repayment phase, what will it cost taxpayers at the end of that? 

MINISTER MADELEINE KING: Well, I might get Neil to add to the particular detail, but the Northern Australia Infrastructure Facility provides low-risk loans, and they are over a longer period so that these projects can become possible for institutions like universities. But, Neil, do you want to answer? 

NEIL MACDONALD: Yes, so we provided some concession – 

JOURNALIST: Do you mind just going up to the microphone? 

NEIL MACDONALD: We have provided some concessions on the loan in terms of [indistinct] in terms of pricing and really just kind of that [indistinct]. 

JOURNALIST: Is it subject to market rates? And, again [indistinct]. 

NEIL MACDONALD: Yes, again, so generally what we try and do is to make sure that [indistinct] as we can, recognising we sometimes need to provide some concessions, such as [indistinct] terms to make sure [indistinct]. 

JOURNALIST: Just a question for the vice-chancellor, if that’s okay. A lot of students say that the accommodation at Casuarina is too expensive and they’re forced into unsafe rentals. How are you going to make this new accommodation affordable for students? 

FIONA COULSON: Look, I think it’s affordable. Really, it’s about what’s included in that. So, you know, often students will be thinking about the cost sort of as just the rental. But we also have, you know, all of the other facilities that go around that – wi-fi and other pieces. But, again, that will be really working with our partners, Campus Living Villages and actually setting rates appropriately. There will be different levels of rooms. So the students may be wanting to have, say, a room where they have a shared bathroom facility. It might be places where you have a family who now have a sort of a larger room. And then there’ll be others who would really like some independent space and some may want sort of access to kitchenette facilities. Others might be wanting to [indistinct] dining facilities. So, again, I think we’ll be pitching that at a number of different levels. And students can choose what fits their budget. 

JOURNALIST: How are international student cuts going to affect the university’s ability to pay back this loan and the loan for this campus as well? 

FIONA COULSON: We’ve been happy to work with the government on the allocation that we’ve been given. I think a challenge remains about visa approvals and the [indistinct] of that and signals [indistinct] to the market. And really, what we are keen to continue to work with the commonwealth government on is really providing surety to markets that where our students come from. We are – we have a lot of students who come from South Asia. We are continuing to now get further students from more Southeast Asia. So really wonderful to be welcoming students from around the world. But it is a challenge in terms of navigating policy settings at times. And we are always in dialogue with the Federal Government. 

JOURNALIST: And this may have been mentioned, sorry, but when are you expected – when will it be finished, and when will people be moving? 

FIONA COULSON: So we’re breaking ground this year, and I’m going to say – and I’m looking over at our CLV partners – but ’28 is our sort of estimated time frame. Does that sound about right, Matt? 

SPEAKER: Sounds about right. 

FIONA COULSON: Yeah. 

SPEAKER: I’d go with that. 

FIONA COULSON: Pending, course, wet seasons and all of those things as well. But, you know, presuming everything goes according to plan, yes, we’ll be [indistinct] 2028. 

SPEAKER: We’re also doing work out at the Casuarina campus as well. The upgrade work there is commencing.

JOURNALIST: Just on another issue: is the government going to implement a 25 per cent tax on gas exports or any other kind of tax on gas exports? 

MINISTER MADELEINE KING:  I think we’ve been very clear we’re not going to announce any measures at all, whether they be taxation or otherwise, before the budget itself in relation to this matter. There’s been a lot of discussion about it. And I’ve said before, I think that’s valid. It’s good to have a discussion about the system. I think sometimes in the debate, what gets lost is the enormous initial capital investment that companies make, planned over many, many decades, in this industry. But, you know, I won’t pre-empt any decisions. Our gas settings have not changed. And we’ll let the inquiry that’s on in the Senate run its course. 

JOURNALIST: But do you acknowledge that the PRRT is not working as intended at the moment? 

MINISTER MADELEINE KING:  No, I don’t acknowledge that at all. The PRRT is a taxation regime that is designed for these really decade-long projects that rely on attracting what has been at the moment – and I’m just talking about two projects - $160 billion worth. We’re at a moment where our future years, revenue will raise as the profits raise. And it’s a profit-based tax. And maybe that’s misunderstood. I’d also make the point that the PRRT, really at the moment only applies – well, it does only apply to offshore gas extraction. And most of the – in fact, nearly all of the offshore gas extraction at the moment is in Western Australia and the Northern Territory. So the PRRT is a tax that affects Western Australia and Northern Territory. And changes to that would not alter anything to do with the Queensland onshore coal seam gas. 

JOURNALIST: Should those two jurisdictions, if you’re looking at a review of this area, should those two jurisdictions get a bigger chunk of any money that comes from the PRRT? 

MINISTER MADELEINE KING:  The PRRT is a federal taxation regime. It was negotiated many years ago under the Keating government. There are different regimes for each state around where the resource is, whether it’s in offshore Australian waters or offshore state and territory waters. So, some future projects in WA are a shared resource, say Browse for instance, between the commonwealth and Western Australia. So Western Australia quite rightly gets a share of that. But if it’s in offshore waters, it does go to the responsibility of the federal government. 

JOURNALIST: Roger Cook says any new gas tax would be bad for WA. You’re from WA. Do you agree? 

MINISTER MADELEINE KING:  The Premier, Roger Cook, is a strong advocate for Western Australian industry, both the entire resources industry, particularly the energy resources industry. I’ve just mentioned how PRRT changes to that affect WA and WA gas industry more than any other. So I understand what Premier Cook is saying, and he has a close friendship with the Prime Minister and a good relationship, and I think it’s only right that he shares his views as the Premier of Western Australia. 

JOURNALIST: The NT Chief Minister says there’s $80 million left in the NT’s flood recovery fund, and she wants that $80 million matched by the commonwealth. Will you be prepared to match that funding? 

MINISTER MADELEINE KING:  Well, I won’t announce any matched funding here. And I believe that funding is linked to my colleague Minister Catherine King. So, I’m more than happy to raise that. I’ve not actually seen that request myself. But what all Territorians should know is that the Federal Government speaks all the time with all the governments of Australia, but particularly in moments of crisis, around the flood situation with the Northern Territory. But the floods associated with ex-Tropical Cyclone Narelle, in fact, it hit all the three northern states, so it’s caused enormous impacts in Queensland, obviously here in the Northern Territory, but also in Western Australia. So we’re talking with all jurisdictions about how we can help in that recovery. And what’s important in that recovery is we build back resilience. Because we know – you people in the north know cyclones happen all the time, and we have to plan for them and plan for them well so that when we do recover and we build back, we build back better for the longer term. 

JOURNALIST: The Beetaloo Basin is expected to produce its first gas later this year. Do you have any concerns that a new tax on gas exports could see a project like that fall over, particularly given all the investment that’s already gone into it? 

MINISTER MADELEINE KING:  Any changes to taxation regime or approvals regime affects the considerations of proponents as they go to invest in projects. And that applies to gas. It equally applies to an iron ore project or a lithium project. So I understand those concerns from parts of industry. The opportunity around the Beetaloo gas basin is immense, in my opinion, for the Northern Territory, but also for the whole country. We’re at the moment going through the domestic gas reservation development, and that is a national reservation. It’s not just the east coast; it includes WA, it includes the Northern Territory, it includes South Australia, as well as our friends on the southern and eastern states. And that’s really important to remember. But we want that reservation to work for Territorians and also for the eastern states as well. And Beetaloo will play a part of that. 

JOURNALIST: Business groups here recently have been saying that to get the full potential out of the Beetaloo, we need investment from the federal government in things like pipeline infrastructure and road infrastructure. Will the Federal Government come to the party on those sorts of things so that gas can effectively be piped from the Beetaloo to the east coast so that – 

MINISTER MADELEINE KING:  Yeah, I had a long discussion this morning with members of the Northern Territory Chamber of Commerce, and this matter was raised, and that makes a lot of sense. There is an opportunity for the Federal Government to be supportive of common-user infrastructure, particularly in roads and access. But we have got a multi-billion-dollar commitment to the Northern Territory in infrastructure and Middle Arm is one great example, but also through roads development. We will continue to talk, as always, to the territory government about how we can help. What we find with a lot of these resources projects is that the companies themselves do invest in that infrastructure as well, because they know they need to. And, to be honest, sometimes they just get it done a bit quicker than governments, even governments working really well together can. And, you know, that’s part of them earning their social licence to operate as well. 

SPEAKER: Last question. 

JOURNALIST: It’s been two years since the commonwealth contributed the best part of a billion dollars underwriting Arafura Rare Earths. You mentioned that earlier. Are you getting worried that in two years, nothing much has really happened? There’s no project still, no FID? 

MINISTER MADELEINE KING:  Well, if I was – I don’t want to talk on behalf of Arafura, but I think if you asked them, they would say a lot has happened. These projects are enormously difficult to get up and to get to FID. And that is because of the broken  market internationally in critical minerals and rare earths. So, the team at Arafura have been working really hard. We’ve been working really hard with them. The NAIF has been working hard and EFA. Arafura is talked about – and the Nolans rare earths project right around the world. We have contributions from the Republic of Korea, from Canada, from the United States and from Germany, all wanting to make this work. And so, we’re very focused on making it work. It was part of the agreement between the President of the United States and the Prime Minister of Australia when we met with the President’s team in the White House last year. So that’s how important the Arafura project is not only to the Northern Territory but to the whole country – indeed, the world. 

JOURNALIST: Can you guarantee it will go ahead, though? I mean – 

MINISTER MADELEINE KING:  There’s no guaranteeing anything, you know, in this world at the moment. But I’m really optimistic. But you know, these projects do have to work hard to get that investment, to secure the offtake, and they are working hard. We need it to be solid. The NAIF has invested in it for a reason, that we’re very optimistic about it working. And part of our work is creating the Minerals Strategic Reserve, and we hope to draw in others into this whole Nolans rare earth story, which will be a game changer for global rare earths production coming right from the heart of this country in Alice Springs.