Tennant Mining has commenced construction of its Nobles Gold Mine Project, which is expected to add $69.9 million to the Northern Territory economy each year.  

Civil works are getting underway at the Nobles Gold Mine Project, with construction and commissioning to be completed in the second quarter of 2025. Gold production is expected to commence in the third quarter of 2025.  

The gold industry in the Territory had an estimated production value of $2.2 billion in the 2022-23 financial year. 

Tennant Mining’s project is forecast to produce an average of 65,000oz of gold yearly, with the precious metal currently sitting above $3,500 per ounce. 

Tennant Mining will initially focus on mining stockpiles and tailings at its Nobles open pit mine, before the development of open cut and underground mines get underway. 

The first phase of this project is expected to extend over a period of eight years, with an ongoing exploration program across the Tennant Creek Mineral Field extending its lifespan to more than 15 years. 

Tennant Mining is building a gold processing facility about 14km outside Tennant Creek, which will enable the gold to be mined and processed onsite ready for market. 

The $94 million project is expected to create more than 80 new working opportunities for Territorians during construction and more than 160 ongoing jobs after operations ramp up over the first two years of production. 

The Territory Government has said that currently, the mining and manufacturing sector in the Northern Territory is worth $6.9 billion and employs nearly 9,000 Territorians, and that it expected these figures to grow as new major mining projects reach Final Investment Decision (FID). 

The Territory Government has supported Tennant Mining to reach FID and commence construction on the new processing facility through a $10 million loan. This loan, in turn, enabled the project to come to fruition in two years, unlocking significant private investment which accelerated FID achievement. 

Northern Territory Minister for Mining, Mark Monaghan, said that the government is backing projects like the Nobles Gold Mine Project and its processing facilities because it will create hundreds of work opportunities for Territorians and deliver a major boost to the Territory’s economy. 

“The resources and mining sector is critical to the Territory’s economy and that’s why we are working with companies so they can grow and deliver the biggest benefits to the Territory,” Mr Monaghan said.  

“We’ve supported this project through the Mineral Development Taskforce and the Local Jobs Fund as we continue to grow the Territory’s economy and create new working opportunities for Territorians.” 

Image: Ryan 94/shutterstock.com 

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