The Finocchiaro CLP Government has welcomed the dispatch of the inaugural shipment of magnetite from the Warrego Rehabilitation Project, bound for Asian markets, marking a significant milestone in legacy mine remediation and economic growth for the Territory.
The project, under Australian private company Northern Iron Pty Ltd, involves the recovery of magnetite - a form of iron ore - from the re-processing of tailings at the historical Warrego mine site, located 50km northwest of Tennant Creek.
The project, which has an expected mine life of three years, is forecast to produce up to 1.2 million wet tonnes of magnetite concentrate annually and currently employs about 35 people.
Magnetite, as the name implies, is a highly magnetic and dense mineral, allowing it to be effectively separated from other tailings material in the processing plant using a combination of water and magnetism, to form a magnetite concentrate.
Minister for Mining and Energy Gerard Maley said the project was a prime example of how legacy mine sites could deliver both environmental and economic benefits, particularly for regional areas.
"The Warrego Rehabilitation Project is exactly the type of innovation the CLP Government is supporting - it's creating jobs, addressing legacy mine issues, and producing a valuable resource," said Mr Maley.
"The first shipment of 47,100 tonnes of magnetite concentrate shows how historical mining sites can be rehabilitated in a way that creates local jobs while driving economic benefits and long-term sustainability."
Processing at the Warrego site commenced in October 2024, with the magnetite concentrate railed from Tennant Creek to Darwin Port in December 2024 for export to Asian markets.
Magnetite is highly sought after in low-emissions steel production.
The Warrego Rehabilitation Project is an example of how legacy mine remediation and value creation can be done in parallel and supports the CLP Government's commitment to ensuring legacy mine sites are managed responsibly.
"The modular design of the Warrego processing plant means it can be relocated and reused at other legacy mine sites in the Tennant Creek region, driving further economic activity while continuing to reduce environmental liabilities," said Mr Maley.
"The CLP Government is committed to unlocking opportunities such as this - where industry innovation and entrepreneurship aligns with our key priority to rebuild and grow the Northern Territory economy.
"I look forward to seeing Northern Iron's continued progress and hope to see more projects like this emerge across other historical mine sites in the Territory."
