NT Government Awards Major Project Status for the Ammaroo Phosphate Project

10 March 2017

NT Government Awards Major Project Status for the Ammaroo Phosphate Project

Major Project Status is another key milestone for the Ammaroo Phosphate Project in its
drive towards development.

Verdant Minerals Ltd (ASX: VRM) is pleased to announce that the Chief Minister of the NorthernTerritory, the Honourable Michael Gunner, has awarded Major Project Status to the Company’s flagship Ammaroo Phosphate Project.

The grant of major project status provides a “whole of Government” approach to Ammaroo, recognising it as a designated Project of Significance to the Northern Territory. The NT Department of Business has been nominated as the lead agency to work with Verdant Minerals to establish a Government project control group to facilitate project delivery and to finalise a Project Development Agreement.

The Ammaroo Phosphate Project is located approximately 180 km south east of Tennant Creek, close to the existing Central Australian railway line, the Stuart Highway and the Amadeus gas pipeline. The Ammaroo Phosphate resource is 1.145 billion tonnes at an average grade of 14% P2O5 at a cut off of 10% P2O5 (as announced to the ASX on 9/12/14 and has not changed since) and is the largest known JORC compliant rock phosphate resource in Australia.

 A bankable feasibility study on a start-up phosphate rock concentrate operation to provide product for export to the Asian region is advancing in accordance with the planned schedule. Furthermore the process for completing an Environmental Impact Statement (EIS) is currently advancing with a target submission date for the EIS of August 2017. Verdant Minerals is aiming to have a bankable and fully approved project ready for development by the end of 2017.

Verdant Minerals’ Managing Director, Mr Chris Tziolis said “we are very pleased to have received the support of the NT Government through the award of Major Project Status, which is recognition for the significance of the project and the role that it could play as the evolutionary step in creating a long term fertiliser industry in the Northern Territory and the significant regional benefits that this could deliver.”

“Ammaroo is a large, long life project that will bring a range of benefits to the region and the Northern Territory both during construction and during production over the ensuing decades. Moreover, the development of Ammaroo and other fertiliser mineral projects in the Territory could in time enable the value adding to the minerals to produce finished fertiliser products to service demand in both Asia and Australia, which now imports most of its fertiliser needs” Mr Tziolis said. “Benefits associated with the development of this industry over time include, employment, training and business development opportunities, royalties and benefits to indigenous communities in the region,” he said.

“We look forward to working closely with the relevant NT Government agencies to deliver the project as a starting point to the development of what could be a significant long term industry for the people of the Northern Territory and a source of value for Verdant Minerals shareholders”

SOURCE: http://www.asx.com.au/asxpdf/20170309/pdf/43gny92391kffc.pdf published 09/03/17

Publish Date: 
Friday, March 10, 2017 - 13:15
News Category: 
News Image: 

Return to News