The Finocchiaro CLP Government has granted Primary Gold a conditional Deemed Mining Licence for its Mount Bundy Gold project, approximately 100 kilometres south-east from Darwin.
This is a significant milestone, with the project set to become the second-largest gold mine and the Northern Territory's 10th operating mine.
More than 400 jobs will be created during construction of a worker's camp, processing facility and gas pipeline to power the mine site.
The Finocchiaro CLP Government has granted Primary Gold a conditional Deemed Mining Licence (DML) for the Mount Bundy Gold Project, located approximately 100km south-east of Darwin, paving the way for what will become the Northern Territory's tenth operating mine.
The approval marks a significant milestone for the project and reinforces the Territory's reputation as a world-class destination for resource investment and development.
The Mount Bundy Gold project includes the Rustlers Roost and Quest 29 open pit mining projects, as well as a worker's camp, processing plant, tailings storage facilities, gas pipeline and associated infrastructure.
Once operational, it will become the second-largest gold mine in the Northern Territory and is expected to have a mine life of approximately 17 years.
The project is expected to create more than 400 jobs during the construction phase, providing a major boost to the Territory economy and supporting local contractors, suppliers and service industries.
It will include construction of a worker's camp, processing plant and a gas pipeline. The new pipeline will allow the company to source gas for its power requirements via a connection to the existing Amadeus pipeline which runs from Central Australia to Darwin.
Minister for Mining and Energy Gerard Maley said the approval demonstrated the CLP Government's commitment to rebuilding the Territory economy and backing projects that create local jobs.
"The Mount Bundy Gold Project is another strong vote of confidence in the Northern Territory and our resources sector," Mr Maley said.
"This project will become the Northern Territory's tenth operating mine and the second largest gold mine in the Territory, creating hundreds of jobs and delivering long-term economic benefits for Territorians.
"This is exactly the kind of development our government is backing - projects that create jobs, attract investment and drive economic growth across the Territory."
Mr Maley said the project would also deliver important flow-on opportunities for Territory businesses.
"It is fantastic to see local companies already benefiting, with Darwin business NT Link commencing work on the workers accommodation facilities," he said.
"From construction and transport to hospitality and maintenance, this project will support jobs and opportunities right across the Territory economy."
The Mount Bundy Gold Project will further strengthen the Northern Territory's position as a globally competitive mining and resources jurisdiction.
The mine is expected to commence gold production from Q1 2028.
Dr Mark Yumin QIU, President, MD and CEO of Hong Kong listed Hanking Gold International Limited here (03788.HK), parent company of Primary Gold Pty Ltd, said:
"We are delighted to announce the commencement of construction work including roads and the 258-man mine camp following the approval of the DML and satisfaction of relevant conditions.
"Processing plant construction has been planned to commence once the Camp is ready.
"We appreciate the great efforts made by relevant NT government authorities, local specialist advisors and contractors, and our team.
"The successful development of Mt Bundy is set to benefit all shareholders, it will directly create more than 400 new jobs and is forecast to contribute to the local economy in tax, rates, rents and royalites from this highly profitable long-life gold mine.
"We'll use our expertise to further grow the gold resource, reserve and gold production to build a sustainable gold operation".
