Kirkland Lake Gold have given the nod of confidence to the Territory economy with the reopening of their Union Reefs mill operations near Pine Creek.
In a boost to the Territory economy, Kirkland Lake Gold intend to invest over $100 million on advanced exploration this year in their NT Operations.
Plans are underway to produce around 10,000 ounces of gold in the remainder of 2019, with the goal of 100,000 ounces in 2020, and potential future production of over 200,000 ounces per year from three Kirkland Lake mining centres of Cosmo, Union Reefs and Pine Creek, all utilising the reopened Union Reefs mill.
Operations were suspended by Kirlkand Lake Gold in mid-2017 as mining reserves reduced, but during that time Kirkland Lake Gold have maintained up to six operational rigs working on projects around the region.
The investment by Kirkland Lake Gold has included mill refurbishment, underground mining development, diamond drilling and preparation of a new Environmental Impact Survey (EIS) for Union Reefs expansion.
Kirkland Lake Gold currently employ approximately 400 staff with the potential to increase to over 450 with the progression of the EIS for Union Reefs North Underground, with 60% of the workforce local to the Northern Territory.
Quotes attributed to Minister for Primary Industry and Resources, Paul Kirby:
“Creating jobs for locals and opportunities for private investment across the Northern Territory is one of the Territory Labor Government’s highest priorities.
“The Northern Territory’s incredibly bright economic future is within reach, and the reopening of the Kirkland Lake Gold Union Reefs Mill is a significant nod to investor confidence off the back of recent announcements from Santos and Newmont Gold.
“It is an exciting time for gold as a commodity and seeing private sector investment such as Kirkland Lake Gold hone in on the potential of the Northern Territory creates strong economic growth and more local jobs.”
Quotes attributed to Kirkland Lake Gold VP of Australian Operations – Ian Holland:
“We are extremely pleased to be reopening the Union Reefs mill here in the Northern Territory today with a plan for significant investment into the NT.
“Our Northern Territory Operations are only set to expand, and the EIS that is underway for Union Reefs North Underground Mine is an important part of the long term strategy.