Minister for Primary Industry and Resources, Ken Vowles, has today granted a mineral lease for the new Mount Peake mine in central Australia, a project granted Major Project status by the Territory Labor Government.
TNG Limiteds Mount Peake mine has the potential to create 500 jobs during construction and 175-250 ongoing roles during operation.
The Mount Peake mine has completed the NT Environmental Impact Assessment process and has also received Federal Government environmental approval under the Environment Protection and Biodiversity Conservation Act 1999 (Cth).
Subject to further operational approvals, TNG aims to begin construction of the new mine next year. The project has an estimated life expectancy of 17 years, following a two-year construction period.
The new mine will produce a vanadium, titanium and iron concentrate that TNG intends to transport by rail to a proposed new metals processing facility being planned for the Middle Arm Industrial Precinct in Darwin. Subject to approvals, TNG expects construction of the refinery to begin in 2020.
As stated by Minister for Primary Industry and Resources, Ken Vowles:
The Territory Labor Governments number one priority is creating local jobs.
TNGs new mine will create new, direct jobs for Territorians, as well as create flow-on effects for Territory business by providing opportunities for new contracts and new tenders.
TNG has also signed a Native Title Agreement, so benefits from the new mine will flow back to the native title holders and the local community.
The progress in the development of this new mine shows the Territory is a great place to invest, to work, and to do business.
As stated by Member for Stuart, Scott McConnell:
This is a significant milestone for the Mount Peake project, a milestone that takes us another step towards creating more jobs for Territorians.
Employment options can be few and far between in the more remote areas of the NT, which makes projects like this so important for central Australia.
As stated by TNG Limited Managing Director, Paul Burton:
We are rapidly ticking off the boxes towards the Mount Peake development, with key announcements over the past few months, including the signing of a Native Title Agreement and the formal award of the Mount Peake Mineral Leases by the NT Government.
With these important milestones now complete, and subject to finance, this will now lead to a significant project going into production in the NT with long-term employment opportunities.