The Dolphin Tungsten Mine on King Island, Tasmania, has officially reopened and is set to provide major economic benefits to the local community and another vital critical mineral source for Australia.
Tasmanian Minister for Resources, Felix Ellis, said he was proud to be on King Island to support the event, and that it is one of the most significant projects seen in the region in recent years.
“14 years in the making, it is tremendous to see this economic gamechanger get going,” Mr Ellis said.
“With around 95 full-time jobs expected to be supported through this operation, the mine will be King Island’s single biggest employer, keeping roofs over the heads of local families and meals on their tables.
Mr Ellis said the mine reopening will also provide a further economic boost to the local community with flow through to local businesses, with around $5 million going into the local economy through salaries alone and, for the broader state, around $30 million expected to be returned to Tasmanian taxpayers through mining royalties and other payments.
“Essential to steelmaking, electronics and defence manufacturing, tungsten is a critical mineral the world cannot do without,” Mr Ellis said.
“It is commonly used in light bulb filaments, jewellery, electronics, metallic tools, aviation, space and defence uses and even in darts and high-performance race cars.
“The Dolphin Mine is known for hosting the highest-grade tungsten deposit of significant size in the western world. In recent years the tungsten prices have surged significantly, and it is now classified as a critical mineral by the Federal Government, and others globally.”
Mr Ellis said that, having previously been closed since 1992, the Tasmanian Government has supported Group 6 Metals to revive the mine through a $10 million commercial loan and a $1.6 million grant to assist with the costs of establishing the energy infrastructure required to restart operations.
“With an excellent potential to increase mine life beyond the initially projected 14 years with additional resources from the Bold Head deposit being examined, this is a long-term boon for King Island and our state,” Mr Ellis said.
“The world cannot do without critical minerals, and Tasmania is blessed to have a number of these minerals in abundance. This is also exactly why Tasmania is supporting industry by developing our own critical minerals strategy.
“I congratulate the entire team at Group 6 Metals and the King Island community on reaching today’s milestone.”
