Chief Minister Michael Gunner today undertook the landmark signing with TNG for the development of the $5 billion Mount Peake Vanadium-Titanium-Iron Mine, 280km north of Alice Springs.

The government has also awarded Major Project Status to Verdant Minerals Ltd’s $750 million Ammaroo Phosphate Project, which has the potential to create almost 500 jobs during construction and operation.

The phosphate project is located about 180km south east of Tennant Creek.

TNG can now develop the mine and high technology refinery in Darwin, where vanadium, titanium and iron products for export overseas will be produced.

“The government is restoring trust by creating jobs and the development of major projects such as the Mount Peake Vanadium-Titanium-Iron Mine will play a critical role,” Mr Gunner said.

“Today’s signing is a significant step forward to securing ongoing employment for hundreds of people in Central Australia and Darwin.

“This is a $850 million project with potential for 500 jobs during construction and more than 200 jobs during operation of the mine, plus more than 1200 jobs during construction and 400 jobs during operation of the refinery.”

TNG is undertaking a range of technical, engineering and environmental studies to fully assess the project, before making a final investment decision.

TNG will conduct a full Environmental Impact Study for the refinery during 2017.

It is intended that ore will be loaded onto trains, with the line running 80km of the mine site, for transportation to Darwin.

Verdant Minerals Ltd’s $750 million Ammaroo Phosphate Project has the potential to create almost 500 jobs during construction and operation.

Chief Minister Michael Gunner today announced that a Project Facilitation Agreement (PFA) had been signed between the NT Government and Verdant Minerals, which operate the Project.

“The NT Government is investing in job creation right across the Territory, and the granting of Major Project Status to Verdant acknowledges the economic significance of this project to the Northern Territory,” Mr Gunner said.

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

“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 PFA 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.

Verdant Minerals Managing Director Mr Chris Tziolis said the project would bring a range of benefits to the region and the Northern Territory during construction and production over the ensuing decades. 

“The development of Ammaroo and other fertiliser mineral projects in the Territory could in time enable the value adding to the minerals to produce finished fertiliser products to service demand in both Asia and Australia, which now imports most of its fertiliser needs,” Mr Tziolis said.

“Benefits associated with the development of this industry over time include employment, training and business development opportunities.  We look forward to working closely with the relevant NT Government agencies to deliver the project as a starting point to the development of what could be a significant long term industry for the Northern Territory.”