10 March 2017
More than 1700 construction jobs and 600 ongoing jobs in the Territory could be created following the signing of a Project Facilitation Agreement (PFA) between the NT Government and major metals company TNG Limited.
Chief Minister Michael Gunner today undertook the landmark signing with TNG for the development of the Mount Peake Vanadium-Titanium-Iron Mine, 280km north of Alice Springs.
The project has been awarded Major Project Status and the signing of the PFA paves the way for the company to develop the mine and high technology refinery in Darwin, where vanadium, titanium and iron products for export overseas will be produced.
“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,” Mr Gunner said.
“Today’s signing is a significant step forward to securing ongoing employment for hundreds of people in Central Australia and Darwin.”
“This is a $850 million project with potential for 500 jobs during construction and more than 200 jobs during operation of the mine, plus more than 1200 jobs during construction and 400 jobs during operation of the refinery.”
TNG is undertaking a range of technical, engineering and environmental studies to fully assess the project, before making a Final Investment Decision.
TNG will conduct a full Environmental Impact Study for the refinery during the course of 2017 which will include stakeholder consultations.