Three mines in the Top End are on track to restart operations following the awarding of Major Project status to the Mt Bundy Gold Project today.
It is estimated the $412 million project will generate $1.78 billion in operating expenditure over the life of the project.
The Mt Bundy Gold Project proposes to restart three mines - Tom's Gully, Rustlers Roost and Quest 29, which are approximately 100 km south east of Darwin, via the Arnhem Highway.
Construction will create 150 jobs over 18 months, and operations are expected to create 300 full time jobs for ten years.
Preliminary construction has already commenced. During October and November last year, the company employed a local work team to build the Mt Bundy Creek culvert bridge at a cost of $800,000. As part of the mine development preparation, the company has spent more than $300,000 to set up the dewatering system with Darwin based NPE company and local contractors.
Mining construction is expected to commence in 2023, once the regulatory approvals process has been completed and a Final Investment Decision has been made.
The operations will include the mines, a process plant and a camp. The proposed plant and mining operation will produce gold doré ingots.
Major Project Status will formally recognise the Mt Bundy Gold Project's significance through its contribution to economic growth, productivity, employment and industry development in the Northern Territory.
The Territory Labor Government recognises the economic benefits of the Territory's resources, and is committed to building and sustaining a strong, diverse economy, providing more opportunities and jobs for locals.
Quotes from Chief Minister Michael Gunner:
"This project is a major goldmine for Territory jobs and for our economy - and it is great news for all Territorians.
"We will see three mines restart, under the umbrella of the Mt Bundy Gold Project which will provide hundreds of positions for Territorians in the Top End, and more opportunities for local businesses.
"This in turn will help strengthen industry, secure our job market and create more opportunities for private investment."
Quotes from Minister for Mining and Industry Nicole Manison:
"The gold industry has been vital to the development of the Territory and we are continuing to work with the private sector to unlock major projects which are significant contributors to the economic development of the Territory."
"This Territory Labor Government is driving more mining projects out of the ground which means more jobs for Territorians and a stronger economy.
"Last year we established the Mineral Development Taskforce, to accelerate more investment and mining projects in the Territory."
Quotes from Managing Director and Chief Executive Officer of Primary Gold, Dr Mark Qiu:
"We are very pleased that the NT government has awarded Major Project Status to the Mt Bundy Gold Project. It is a great achievement for Primary Gold, its shareholders and the Northern Territory."
"The awarding of Major Project Status distinguishes the Mt Bundy Gold Project as an attractive investment ready development in a mining friendly jurisdiction, with all major authorisations received or well advanced in the approval process."
"We thank the local community and NT government over the last few years for the great support. We have increased more than 1.2 million ounce gold resources and more than 700% increase in gold ore reserve at Mt Bundy through extensive investments in exploration, mining, processing and detailed environmental studies through cooperation with well-known expert companies include Northern Territory based WDA Drilling Services GR Engineering, Orelogy, Knight Piesold and CDM Smith."
