Northern Territory’s Pine Creek gold mine given revival approval
The Northern Territory Government has given the green light for the Fountain Head gold project in Pine Creek to resume operations.
The open-cut gold mine, operated by Patronus Resources Ltd (ASX: PTN), formerly PNX Metals Ltd, was developed in 2008 and has been in care and maintenance since.
Patronus Resources has met its regulatory requirements under the new Environment Protection Act 2019 and is now authorised to proceed operations following the Territory Government’s approval of its Deemed Mining Licence (DML).
Northern Territory Mining and Energy Minister Gerar Maley says the approval is good news for the Pine Creek region, local businesses and the local community.
“Our mining and resources sector contributes over $6b to our economy, creates thousands of jobs for Territorians, and supports regional businesses,” he said.
“[The Northern Territory] Government is committed to backing, and getting more of, these projects off the ground.”
The Fountain Head gold project holds an estimated 3mt of gold-bearing ore within its existing pit. A new gold mill at Fountain Head will also create opportunities for other nearby gold resources, such as Glencoe and Mount Porter to be developed.
The proposed activities of the Fountain Head mine also include:
- construction of a mill for processing gold ore;
- construction of an evaporation pond for management of water;
- construction of an integrated waste landform to store mine waste; and
- rehabilitation of the project once it is complete.
Northern Territory Lands, Planning and Environment Minister Joshua says “this is the first mine approved to restart operations and transition out of care and maintenance under the NT Government’s updated regulatory process,” he said.
It follows the repeal of the Mining Management Act 2001 and changes to the Environment Protection Act 2019 for mining regulation.