The Finocchiaro CLP Government's plan to rebuild the economy continues to pick up steam, with the first shipment of magnesite in 30 years set to leave Darwin Port for Japan this week.
A bulk sample of around 15,000 tonnes of high-grade magnesite has been extracted from Thessally Resources Pty Ltd's Huandot Magnesite Project, located 80km south of Darwin Port in the NT.
The magnesite ore at Huandot has been crushed into lump and fine product sizes and will be sent to Japan for process trials.
Ideally located near transport and energy infrastructure, the critical minerals project is well positioned to capitalise on a successful bulk sample trial. Such success could unlock long-term magnesite offtake agreements and drive the project's development.
Magnesite is a naturally occurring mineral and, in its raw form, can be used as a fluxing agent material in steel refining.
When processed to magnesia (magnesium oxide), it serves as an essential feedstock for a range of industrial, agricultural, and construction applications, including for furnace linings, as a component in fertilizers and animal feeds, and in construction materials.
Minister for Mining and Energy Gerard Maley said this was the first time since 1995 that magnesite has been shipped to overseas markets.
"As part of our year of action, security and certainty, our Rebuilding the Economy strategy is delivering real results like this for Territorians, and making the NT the best place to live, work and invest.
"The Territory holds significant mineral potential, essential for modern living and the global advancement in clean energy technologies.
"The CLP Government is committed to capitalising on this emerging opportunity and supporting the development of the Territory's valuable resources to deliver jobs and long-term economic prosperity for all Territorians.
"The Huandot project has a long development history, and the production of the bulk sample marks a major milestone for Thessally. This achievement positions the project to become one of the few magnesite mines in Australia," Mr Maley said.
The Territory has significant magnesite deposits located near Batchelor, with Huandot's magnesite resources amenable to low-cost mining and simple processing.
Thessally plans to develop the project in stages: beginning with magnesite direct shipping ore production, then advancing to downstream processing to produce magnesia, and ultimately magnesium metal.
Jeff Elliott, Chairman of Thessally Resources said, "Huandot is a large and high purity deposit which is amenable to open-pit mining and simple processing to create a wide variety of products. Its high-grade and proximity to port, gas and solar infrastructure bode well for unlocking its value."
Securing a major Japanese steel producer for industrial scale process trials is a critical step, and with government and community support we look forward to progressing the development of this strategically important critical minerals project."
