The Territory Labor Government is promoting Tennant Creek as a mining and services hub to create jobs, and this development took a big step forward today with the announcement of a new strategic alliance between Emmerson Resources and Territory Resources Ltd.
In a game-changer for the Barkly region economy, Territory Resources Ltd has committed to the construction of a new, modern 300,000tpa Carbon in Pulp mill on the site of the Warrego Mill.
This new milling facility will help unlock the potential of Tennant Creek by providing a central processing facility for gold deposits and potential new mines which means more jobs and more investment for Tennant Creek.
Todays announcement will also see an additional $5 million of exploration over five years by Territory Resources Ltd. This investment builds on the Territorys significant recent growth in exploration, with ABS figures released earlier this week showing exploration expenditure in the NT surged by 43 per cent last financial year.
Minister for Primary Industry and Resources, Ken Vowles:
The Territory Labor Governments number one priority is creating local jobs, which is why we are developing Tennant Creek as a mining and services hub. Todays announcement shows industry has recognised the progress being made.
Our Government is working every day to attract investment and we worked with Emmerson Resources and Territory Resources to pro-actively manage this legacy site into a modern regulatory setting under the Mining Management Act.
This means that, in addition to new jobs and new investment, environmental and legacy mine issues will be better managed, with security bonds and a remediation levy.
As stated by Member for Barkly, Gerry McCarthy:
Tennant Creek is well known as the golden heart of the Territory and this latest development proves that gold is not only part of our historical story and contemporary success, but an integral element of our future as well.
Emmerson Resources Managing Director, Rob Bills:
This strategic alliance between Emmerson Resources and Territory Resources will realise Emmersons long-held ambition of Tennant Creek being re-established as an integrated exploration, mining and minerals processing hub. We welcome the continued support of the NT Government for this initiative and look forward to making a positive economic contribution in the region.
As stated by Territory Resources Ltd Director, Stephen Parnell:
We are pleased to announce this joint venture with Emmerson Resources which complements the recent option we acquired over the prolific Nobles Nob and Juno mining areas. Our aim is to have the Warrego processing facility back online by the end of 2018.