“The Government and Vista Gold both want to see Mt Todd operating again, in the interests of regional development, creating local jobs and managing environmental issues,” Resources Minister, Ken Vowles said.

“The extended agreement maintains Vista Gold’s role as manager of the site, and acknowledges its commitment to future development.

The Mt Todd Gold Mine is located approximately 50 km northwest of Katherine and 250 km south of Darwin and ceased operating in 2000.

Mr Vowles said the renewal recognised the cooperative relationship between the Government and Vista Gold to manage environmental conditions at the site.

“It is beneficial to have an operator on site to manage mine water and other environmental impacts. If there was no operator the NT Government would have to take on the expense of managing the site,” Mr Vowles said.

“Since Vista Gold took responsibility for the site in 2007, both the company and the Government have invested significant resources into managing water on the site.

“Vista Gold has also completed a full environmental impact assessment of the former mine, with the aim of moving into development when optimal industry conditions are reached.

“In the longer term, reopening the mine will ensure rehabilitation of the site after the mine ceases operation.” 

The Northern Territory Government renewed the agreement in 2011 and again by Deed of Variation in 2014, extending it until 31 December 2018.

Vista Gold sought an early renewal of the agreement by another Deed of Variation until 31 December 2023, which has been approved.

The mine held an open day in March.