The Northern Territory Government has granted a mineral lease for the new Mount Peake mine in central Australia.
TNG Limited’s Mount Peake mine has the potential to create 500 jobs during construction and 175-250 ongoing roles during operation.
The Mount Peake mine has completed the NT Environmental Impact Assessment process and has also received Federal Government environmental approval under the Environment Protection and Biodiversity Conservation Act 1999 (Cth).
Subject to further operational approvals, TNG aims to begin construction of the new mine next year. The project has an estimated life expectancy of 17 years, following a two-year construction period.
The new mine will produce a vanadium, titanium and iron concentrate that TNG intends 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 expects construction of the refinery to begin in 2020.