Gold for Territory Economy and Local Jobs: Mount Todd Mine Approved

NT Government

In a massive boost for local jobs the Territory Labor Government has given the green light to Vista Gold Australia to recommence mining operations of the Mount Todd Mine.

Located 55 kilometres northwest of Katherine, the Mount Todd Mine Project is set to produce semi pure gold bars.

The mine ceased operating in 2000 and has been in care and maintenance since 2006 when Vista acquired the mineral titles.

Vista Gold’s Mining Management Plan (MMP) has now been assessed by the Territory Government and meets the requirements of the Mining Management Act 2001, is consistent with all environmental requirements and addresses previous recommendations from the NT Environmental Protection Authority.

The Mount Todd Mine Project also holds an Aboriginal Areas Protection Authority (AAPA) Certificate.

In line with the Territory Economic Reconstruction Commissions final report the Mount Todd Mine Project is now the fifth significant mine approved in the last 12 months, with the other approvals being:

· Core Lithium, Finniss Project,

· Nathan River Resources, Nathan River Project;

· McArthur River Mine ,Overburden Management Project; and

· KGL, Jervois Mining project

The approved MMP is publically available on the NT Government website https://industry.nt.gov.au/publications/mining-and-energy/public-environmental-reports/mining/public-mining-environmental-reports/mines

Quotes from Minister for Mining and Industry, Nicole Manison

“This is big news for the Territory, with the Mount Todd Project creating around 450 jobs during construction and 350 jobs during peak production.

“Mining is a huge job creator for Territorians – employing over 4,400 people directly and we are working hard to make the Territory the best place for exploration and mining investment in Australia.

“The total value of mineral production in the Northern Territory for 2019-20 was $4.4 billion and establishing new mines creates local jobs for Territorians and significantly boosts our economy.

“This is the fifth major mine approval over the past 12 months in the Northern Territory and a further step to strategically position us as a globally-significant hub for mineral exploration.”

Quotes from President and Chief Executive Officer of Vista, Frederick H. Earnest

“The approval of the MMP is a landmark achievement for Vista, its shareholders and the Northern Territory.

“We believe that the approval of the MMP distinguishes Mount Todd as one of the most attractive, partner-ready development projects in the world and places it at the top of a unique class of gold projects: large-scale production, low operating costs, mining friendly jurisdiction, substantial existing infrastructure, storing social and government support and , now, with all major authorisations in hand.”

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