Two mining projects worth $1.6b north of Alice Springs have moved closer to becoming reality.
They are TNG Limited’s $850m planned Mount Peake Vanadium-Titanium-Iron Mine, 280km north of the town, which would provide more than 1700 construction jobs and 600 ongoing jobs, and Verdant Minerals Ltd’s $750m Ammaroo phosphate project, which has the potential to create almost 500 jobs during construction and operation, according to announcements by Chief Minister Michael Gunner.
This “paves the way” for TNG to develop the mine and high technology refinery in Darwin, where vanadium, titanium and iron products for export overseas will be produced for export overseas, he says.
“TNG is undertaking a range of technical, engineering and environmental studies to fully assess the project, before making a final investment decision and will conduct a full environmental impact study for the refinery during the course of 2017 which will include stakeholder consultations,” says Mr Gunner.
Verdant Minerals is planning its project about 180km south east of Tennant Creek.
“If approved the project could commence construction by the second half of next year, and become operational in late 2019,” says Mr Gunner.
“During construction it is estimated that the workforce will peak at around 300, and once operational there be about 160 direct jobs.”
Mr Gunner said the Project Facilitation Agreement requires Verdant and the NT Government to work together in progressing the project through the required approvals processes, with an Environmental Impact Statement due later this year, and to develop an industry participation plan.
PHOTO: Magnetite in drill core trays, Mount Peake project.