Mount Peak is 235km north of Alice Springs. Image: TNG Limited.
BY AMY BLOM
TNG Limited’s Mount Peake mine is a step closer after the Northern Territory Government granted the company a mineral lease on 21 November.
Mount Peake, 235km north of Alice Springs, had the potential to create up to 500 jobs during construction and between 175 and 250 ongoing roles during operation.
The mine, granted major project status by the NT Government, has already completed the NT Environmental Impact Assessment process and received Federal Government environmental approval under the Environment Protection and Biodiversity Conservation Act.
TNG Limited managing director Paul Burton said the company was 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.
“With these important milestones now complete, and subject to finance, this will now lead to a significant project going into production in the NT with long-term employment opportunities,” Mr Burton said.
Subject to further operational approvals, TNG aimed to begin construction in 2019 over a two year period, with an estimated mine life of 17 years.
The new mine would produce a vanadium, titanium and iron concentrate that TNG intended 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 expected construction of the refinery to begin in 2020.
NT Primary Industry and Resources minister Ken Vowles said the progress in the development of Mount Peake showed the Territory was a great place to invest, work, and do business.
“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 tenders,” Mr Vowles said.
