The massive $5 billion Mount Peake mine has won environmental approval from the Federal Government.
The NT Government expects more than 1700 construction jobs and 600 ongoing jobs could be created from the development of the vanadium-titanium-iron mine.
The NT’s EPA has already approved the project.
The government has signed a Project Facilitation Agreement with major metals company Perth-based TNG Limited.
The mine is located 280km north of Alice Springs.
TNG also has plans to develop a high technology refinery in Darwin, where vanadium, titanium and iron products for export overseas will be produced.
It is intended that ore will be loaded onto trains, with the line running 80km of the mine site, for transportation to Darwin.
Minister for Primary Industry and Resources, Ken Vowles, said he is closer to authorising a major mining project in the Territory after TNG’s world-class Mount Peake project received environmental approval from the Australian Government.
“TNG plans to mine vanadium, titanium and iron at the site 230km north-west of Alice Springs,” Mr Vowles said.
“There has been exceptional demand for these strategic metals over the last 12 months, so the future looks bright for Mount Peake and Territorians – this project will create jobs not only on site, but also at a planned metals refinery TNG wants to open in Darwin.”
Earlier this year the NT Environment Protection Authority recommended the project proceed.
“Now TNG has received federal environmental approval they can move on to the next stages of the approval process,” Mr Vowles said.
TNG’s managing director Paul Burton said the receipt of federal environmental approval was a huge milestone for the Mount Peake project.
“This has brought it another important step closer to financing and development,” he said.
