1.6b mining projects inching towards reality

p2417 Mt Peake mine

 

Two mining projects worth $1.6b north of Alice Springs have moved closer to becoming reality.

 

They are TNG Limited’s $850m planned Mount Peake Vanadium-Titanium-Iron Mine, 280km north of the town, which would provide more than 1700 construction jobs and 600 ongoing jobs, and Verdant Minerals Ltd’s $750m Ammaroo phosphate project, which has the potential to create almost 500 jobs during construction and operation, according to announcements by Chief Minister Michael Gunner.

 

 

This “paves the way” for TNG to develop the mine and high technology refinery in Darwin, where vanadium, titanium and iron products for export overseas will be produced for export overseas, he says.

 

“TNG is undertaking a range of technical, engineering and environmental studies to fully assess the project, before making a final investment decision and will conduct a full environmental impact study for the refinery during the course of 2017 which will include stakeholder consultations,” says Mr Gunner.

 

 

Verdant Minerals is planning its project about 180km south east of Tennant Creek.

 

“If approved the project could commence construction by the second half of next year, and become operational in late 2019,” says Mr Gunner.

 

“During construction it is estimated that the workforce will peak at around 300, and once operational there be about 160 direct jobs.”

 

Mr Gunner said the Project Facilitation Agreement requires Verdant and the NT Government to work together in progressing the project through the required approvals processes, with an Environmental Impact Statement due later this year, and to develop an industry participation plan.

 

PHOTO: Magnetite in drill core trays, Mount Peake project.

 

 

 

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3 Comments (starting with the most recent)

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  1. Dr Who
    Posted March 15, 2017 at 6:23 pm

    Whilst I haven’t looked into the phosphate situation, I heard a few years ago it was going to be a big problem, I would suggest if resources of phosphate are developed here in Australia, it is NOT exported but kept here.
    I dare say, sadly, that we will see most of it exported for short term gain for multinationals, until it is depleted. Then what?

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  2. Trevor Shiell
    Posted March 15, 2017 at 4:35 pm

    That is a great move. World forecasts for phosphate are scary.
    We will be running out of phosphate for agricultural use within 20 years and the implications for us are horrendous.
    The oceanic resources (Naru) and other places are rapidly depleting and we are so dependent on phosphate to grow staple crops make the situation urgent.
    The next source is Algeria, and possibly the USA, with all the inherent political risks.
    There is another potential deposit in WA, and Qld, which is in the development stage but we may well be in the clutches of forces beyond our control.
    I am always astounded after watching wheat farmers in other places, pay big money for phosphate, produce their food and watch the waste products with the excess nutrients go through the sewerage process and then be wasted while the farmers spend big money on new nutrients.
    Put an economic value on the nutrients, as well as the water, including P and potassium in the sewerage ponds and re cycle them.
    One NSW university has re designed a toilet to save the nutrients in urine.
    There is a goldmine in there, but once again no one is watching.
    I declare that I saw this phosphate deficiency coming and brought shares in what was then Rum Jungle resources for my grandchildren.

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  3. David
    Posted March 10, 2017 at 9:23 pm

    Great news indeed, for FIFO workers.
    Territorians from the bush should move to Perth or one of the other cities. You might get lucky in scoring a job in one of those exciting future projects to help contribute towards building your Territory.
    Prospects of Territorians making up the 300 construction workforce and 160 operational jobs once completed, would be minimal.
    If fair dinkum, put a recruitment office in Alice Springs and Tennant Creek, close to these big projects, not just in the interstate cities and online recruitment.

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