More than 2,000 jobs are expected to be created in the Northern Territory following the signing of a Project Facilitation Agreement (PFA) between Australian metals company TNG Limited and the State Government for an $850 million mining project.
The Mount Peake vanadium-titanium-iron mine project – located 280km north of Alice Springs – has been given A Major Project Status and the signing of the PFA is another milestone towards the development of the mine and the TIVAN metals refinery in Darwin.
“The Territory Labor Government is restoring trust in Government by creating jobs and the development of major projects such as the Mount Peake Vanadium-Titanium-Iron Mine will play a critical role.
“This is an $850 million project with potential for 500 jobs during construction and more than 200 jobs during operation of the mine, plus more than 1,200 jobs during construction and 400 jobs during operation of the refinery,” said Chief Minister Michael Gunner.
Project map (source: TNG Limited)
TNG is currently undertaking a various range of technical, engineering and environmental studies which will help in assessing this project before the company makes a Final Investment Decision. A full Environmental Impact Study will also be conducted throughout 2017, including stakeholder consultations.
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Source: Australian Mining and NT Government Newsroom