The expansion will allow Newmont to produce up to an additional 80,000oz of gold per year.

The mine has a 4.5 million ounce gold reserve and has produced around 8 million ounces of gold since it commenced in the early 1990s.

In today’s prices, the gold produced is worth almost $10 billion.

It is located 540km west of Alice Springs in the remote Tanami Desert on the border of the Northern Territory and Western Australia.

“The Territory Labor Government is focused on engaging with industry to create jobs and grow the economy,” Mr Gunner said.

“Around 120 jobs were created during construction of the expansion and up to 18 additional jobs will be created as a result of the expanded operations.

“Newmont’s Tanami operation is one of the largest and most successful gold producers in Australia, and the expansion will extend the projected life of the mine by three years. This is great news for the Territory economy.”

Minister for Primary Industry and Resources, Ken Vowles, said the government is working hard to support the sustainable development of the resources sector by simplifying processes and red tape.

“The resources sector is responsible for around 4800 jobs in the Territory and is a cornerstone of our economy,” Mr Vowles said.

“A strong minerals sector means more jobs, so we are providing potential investors with geoscientific data and information, and simplifying and streamlining application processes.”

Newmont’s Tanami expansion includes the construction of a 3.2km second decline to underground workings and an increase in the size of the processing plant and mill. This involved adding a ball mill, thickener and gravity circuit to improve recoveries at the mill.