AusBN - The mining industry in the Northern Territory has been given a boost by the news that the state government has signed Project Facilitation Agreements (PFA) for two mining projects.
The large projects are set to bring more than 2,000 mining jobs to the territory.
Metals company TNG (ASX:TNG) has been given the all-clear to develop its TIVAN metals refinery as part of its Mount Peake vanadium-titanium-iron project.
Located 235km North West of Alice Springs, the AUS$850 million project is expected to provide more than 1700 construction jobs and 600 ongoing jobs.
The NT government also granted a PFA for Verdant Minerals’ (ASX:VRM) $750 million Ammaroo phosphate project 180km South East of Tennant Creek.
Construction at Ammaroo should begin during the latter half of 2018, with the project set to be operational by late 2019. 500 jobs will be created over this period.
Verdant’s managing director Chris Tziolis said: “We look forward to working closely with the relevant NT Government agencies to deliver the project as a starting point to the development of what could be a significant long term industry for the Northern Territory.”