The Northern Territory Government is backing resource development at one of Australia’s most remote gold mines, delivering employment opportunities, investment and royalties for the community.
Newmont owned Tanami mine, located 550 kilometres northwest of Alice Springs, employs 1800 people and is expected to produce nearly 380,000 ounces of gold in 2025.
With gold prices topping at record highs, this production is set to deliver millions in royalty revenue to the state’s economy.
The Tanami operation has been producing gold since 1983 and has been wholly owned by Newmont since 2002.
NT Mining and Energy Minister Gerard Maley visited the mine earlier this month, travelling 1.3 kilometres underground to inspect the mine’s operations, including a new ore crusher as well as the key Tanami Expansion 2 (TE2) project.
“The Tanami mine is a powerhouse of gold production and a major economic driver for the Territory,” Maley said.
“With expansion works well underway and record commodity prices, this project represents long-term jobs, royalties and investment for the Territory, exactly what our government is focused on delivering in our year of action, certainty and security.
“Our mining sector continues to lead the way in rebuilding the Territory economy, and the Tanami operation stands as proof of the opportunities that exist when government and industry work together.”
TE2 is expected to increase average annual gold production by approximately 150,000 to 200,000 ounces per year to 600,000 ounces per year for the first five years and reduce operating costs by approximately 10 percent.
Commercial production for the project is expected in the second half of 2025, with total capital costs estimated between $1.2 and $1.3 billion.
