For the first time in more than two decades, large-scale gold mining has returned to the Barkly with Tennant Mines starting commercial production at its Nobles gold operations.
The $94 million project is expected to deliver an average of 60,000 ounces of gold per year over the life of the mine and create more than 160 ongoing jobs over the next two years as mining ramps up.
It follows last year’s successful acquisition of Tennant Mines by international gold producer Pan African Resources and signals strong investor confidence in the Northern Territory’s resources sector.
“This is a huge milestone for the [NT] and an even bigger one for our Barkly region, highlighting a significant boost for regional economic development as our government rebuilds our economy,” Mining and Energy Minister Gerard Maley said.
“This project will deliver long-term benefits for local communities and the Territory economy and is the result of strong investment, good planning and a clear vision for the future of mining in the Territory.”
The first phase of the Nobles operations includes processing existing stockpiles, before expanding to a series of open-cut and underground mines, with plans to increase production to around 100,000 ounces per year over the medium term.
The current mine life is forecast at eight years, with plans to extend beyond 15 years, and further into the future.
“The construction of this new processing plant has unlocked Tennant Creek’s rich gold resources. It’s a great result for our mining industry and a massive win for the Barkly,” Minister for Housing, Local Government and Community Development and Member for Barkly Steve Edgington said.
“Our government is delivering on its commitment to grow the Territory economy, drive regional development and support long-term job creation through a strong and sustainable resources sector.”
