Northern Territory Minister for Primary Industry and Resources Ken Vowles

Mineral Lease Granted For New Mount Peake Mine

Victor P Taffa

Minister for Primary Industry and Resources, Ken Vowles, has today granted a mineral lease for the new Mount Peake mine in central Australia, a project granted Major Project status by the Northern Territory Government.

“Territory Government’s number one priority is creating local jobs.” Minister for Primary Industry and Resources Ken Vowles said.

“TNG’s new mine will create new, direct jobs for Territorians, as well as create flow-on effects for Territory business by providing opportunities for new contracts and new tenders.”

TNG Limited’s Mount Peake mine has the potential to create 500 jobs during construction and 175-250 ongoing roles during operation.

Mount Peake mine has completed the Northern Territory Environmental Impact Assessment process and has also received Federal Government environmental approval under the Environment Protection and Biodiversity Conservation Act 1999 (Cth).

“This is a significant milestone for the Mount Peake project, a milestone that takes us another step towards creating more jobs for Territorians.” Member for Stuart Scott McConnell said.

“Employment options can be few and far between in the more remote areas of the Northern Territory, which makes projects like this so important for central Australia.”

Subject to further operational approvals, TNG aims to begin construction of the new mine next year. The project has an estimated life expectancy of 17 years, following a 2-year construction period.

“We are rapidly ticking off the boxes towards the Mount Peake development, with key announcements over the past few months, including the signing of a Native Title Agreement and the formal award of the Mount Peake Mineral Leases by the Northern Territory Government.” TNG Limited Managing Director Paul Burton said.

“With these important milestones now complete, and subject to finance, this will now lead to a significant project going into production in the Northern Territory with long-term employment opportunities.”

New mine will produce a vanadium, titanium and iron concentrate that TNG intends to transport by rail to a proposed new metals processing facility being planned for the Middle Arm Industrial Precinct in Darwin. Subject to approvals, TNG expects construction of the refinery to begin in 2020.