TM Gold’s Spring Hill Mine has been approved by the Northern Territory Government to start operations, and is estimated to initially produce 102,000 ounces of gold over a 13 month period.
Works at the site, which is located approximately 30km north of Pine Creek, to date include historical shaft mining and exploration drilling under various operators between 1992 and 2017.
TM Gold’s Mining Management Plan (MMP) meets the requirements of the Mining Management Act 2001, the Environment Protection and Biodiversity Conservation Act 1999 and is consistent with all environmental requirements from the NT Environmental Protection Authority.
Authorised works in the approved MMP require that a security amount of over $1.4 million is held by the Northern Territory Government.
The approved MMP will be publically available on the NT Government website here.
Territory Minister for Mining and Industry, Nicole Manison, said the Northern Territory Government was working hard to make the state the best place for exploration and mining investment in Australia.
“The Spring Hill Mine will support over 30 local jobs with mining scheduled to commence later this year,” Ms Manison said.
“Our resources industry is one of the biggest contributors to the Northern Territory economy, and Spring Hill Mine is now the sixth significant mine approved in the last two years.
“We are serious about supporting the resources sector, and this approval delivers a clear signal to potential investors that we’re open for business and working hard to protect the environment through appropriate regulation.”
Major shareholder and Executive Chair of PC Gold, a subsidiary of TM Gold, Ashley Pattison, said the support provided by the Northern Territory Department of Industry, Tourism and Trade was beneficial in getting the MMP for the Spring Hill gold mine finalised.
“The Spring Hill deposit is located within one of the largest mining leases in the Northern Territory and stage one of the project is seen as a very important stepping stone to a much longer mine life,” Mr Pattison said.
The Spring Hill Mine Project approval is now the sixth significant mine approved in the last two years, with the other approvals being:
- Core Lithium, Finniss Project
- Nathan River Resources, Nathan River Project
- McArthur River Mine, Overburden Management Project
- KGL Resources, Jervois Project
- Vista Gold, Mount Todd Mine Project
