The Australian Government's Northern Australia Infrastructure Facility (NAIF) is helping drive economic growth in Western Australia's Pilbara region with a $150 million loan to De Grey Mining's Hemi Gold Project.
Located 85km south of Port Hedland, the Hemi Gold Project is set to become one of Australia's largest gold mining operations and will deliver significant benefits to the local community - including more than 1,700 jobs during construction and operation.
NAIF's loan will support the development of mining and processing facilities and related critical infrastructure, including accommodation and utilities.
Minister for Resources and Northern Australia, Madeleine King, made the announcement in Karratha, Western Australia and said the investment was another example of how the Albanese Government was delivering for communities in Northern Australia.
"This project will boost economic and social outcomes for people living and working in the Pilbara," Minister King said.
"This investment will help diversify the local economy, which is currently highly concentrated around our successful iron ore and gas industries.
"In addition to creating new job opportunities, the project will have significant flow-on benefits locally and attract further investment in community and public infrastructure.
"We're committed to investing in the north - because a strong north means a strong Australia."
Special Envoy for Northern Australia, Luke Gosling OAM, welcomed the investment decision.
"This funding is part of more than $4.5 billion committed by the Australian Government through NAIF to spur development across a range of industries in the north," Mr Gosling said.
"This critical investment is unlocking opportunities for local communities and driving growth that benefits all Australians."
As a condition of NAIF's funding, De Grey Mining has committed to engaging closely with the Kariyarra Aboriginal Corporation to drive positive outcomes for Traditional Owners.
The Hemi Gold Project adds to NAIF's growing portfolio of investments in resources projects across northern Australia, and brings NAIF's total investment in Western Australian projects to more than $1.9 billion.
