Large-scale gold mining has returned to the Barkly for the first time in more than 20 years, as Tennant Mines starts commercial production at its Nobles gold operations.
The $94 million project is expected to deliver an average of 60,000 ounces of gold per year over the life of the mine and create more than 160 ongoing jobs over the next two years as mining ramps up.
It follows last year's successful acquisition of Tennant Mines by international gold producer Pan African Resources and signals strong investor confidence in the Territory's resources sector.
Minister for Mining and Energy Gerard Maley, who this week inspected the Nobles project, said it marked an exciting new era of development and jobs for the Barkly and beyond.
"This is a huge milestone for the Territory and an even bigger one for our Barkly region, highlighting a significant boost for regional economic development as our government rebuilds our economy," said Mr Maley.
"This project will deliver long-term benefits for local communities and the Territory economy and is the result of strong investment, good planning and a clear vision for the future of mining in the Territory.
"I congratulate Tennant Mines and Pan African Resources on this achievement. This is a project that reaffirms the Northern Territory's position as an attractive and globally competitive mining destination."
The first phase of the Nobles operations includes processing existing stockpiles, before expanding to a series of open-cut and underground mines, with plans to increase production to around 100,000 ounces per year over the medium term.
The current mine life is forecast at eight years, with plans to extend beyond 15 years, and further into the future.
Minister for Housing, Local Government and Community Development, and Member for Barkly, Steve Edgington said the project marked a turning point for jobs, growth and opportunity in the region.
"The construction of this new processing plant has unlocked Tennant Creek's rich gold resources. It's a great result for our mining industry and a massive win for the Barkly," said Mr Edgington.
"Our government is delivering on its commitment to grow the Territory economy, drive regional development and support long-term job creation through a strong and sustainable resources sector."
Tennant Mines Managing Director Peter Main said the company was proud to contribute to the Tennant Creek community and driving real economic benefits for the region.
"We've created meaningful job opportunities for Traditional Owners and Indigenous workers, with one in six of our roles filled by Aboriginal Territorians; almost all from the Barkly," said Mr Main.
"We've spent more than $12 million with 212 Territory businesses, including over $7.3 million with 102 Barkly suppliers and $1.4 million with 23 Indigenous enterprises, six of which are owned by Traditional Owners right here in Tennant Creek."
Pan African Resources Executive Director and CEO Cobus Loots said the company had been searching globally for the right opportunity to deliver long-term value and shared community benefits.
"We had assessed many projects across Africa and beyond for our next generation of growth, and found value and opportunity in Tennant Mines," said Mr Loots.
"We fully support Tennant Mines' commitment to delivering enduring environmental, social, economic and community benefits for Tennant Creek, the Barkly and the Northern Territory."
The NT's gold sector delivered a production value of $1.4 billion in 2023-24, with gold prices currently sitting near record highs of over A$5,000 per ounce.
Total mineral production in the same period was valued at $4.32 billion.
There are 18 developing projects in the Territory with a combined potential capital expenditure of $6 billion.
These projects could deliver more than 3,400 direct jobs and thousands more indirect opportunities across the regions.
"The Finocchiaro CLP Government is getting on with the job of rebuilding the economy and restoring certainty for the resources industry," said Mr Maley.
"2025 is our year of action, certainty and security and Tennant Creek's new gold mine is proof that the Territory is open for business."
