Mining is set to return to the Northern Territory’s former centre of gold production with the reopening of the Nobles Nob gold mine near Tennant Creek. Tennant Mining has initiated the construction of a processing plant at the site, with operations set to begin in the second half of next year. The project is expected to bring $70 million to the Northern Territory economy and support around 160 jobs.
Key Points:
- The Nobles Nob gold mine near Tennant Creek is being reopened.
- Expected to bring $70 million to the NT economy and create about 160 jobs.
- Production is anticipated to start by the second half of next year.
Insight: Reopening the Nobles Nob mine not only benefits the economy but also creates a significant number of job opportunities for the local community, including Indigenous workers.
### Historical Significance of Nobles Nob
Gold was previously mined at Nobles Nob from the 1930s until 1985, establishing it as Australia’s richest gold deposit at the time. The site boasts a substantial resource base of 1.1 million ounces and a reserve base of 400,000 ounces. Given the current high gold prices, the project is expected to yield promising returns.
### Economic Impact and Potential
The Nobles Nob project is forecasted to inject nearly $70 million into the Northern Territory economy annually. This development is not only a boost for the Barkly region but also underscores the critical role of the resources and mining sector in driving the territory’s economy.
### Job Creation and Local Workforce
Construction activities at the mine are projected to create 80 jobs initially, with the workforce expanding to 160 jobs once the project is operational. Tennant Mining aims to have at least 25% of the workforce comprised of local employees, including a target of 16% Indigenous workers.
By focusing on mining historical stockpiles of waste rock and tailings before developing open-cut and underground mines, the Nobles Nob project sets a precedent for sustainable resource extraction. Ongoing exploration could extend the project’s lifespan beyond the initial eight years, providing long-term employment opportunities.
The revival of the Nobles Nob gold mine represents a significant step towards reinvigorating the mining sector in the Northern Territory while simultaneously offering substantial economic benefits and job prospects for the region.
