Mt Bundy gets major boost for the NT

Australia's gold

Primary Gold’s Mt Bundy gold project has been awarded Major Project Status, setting up three mines in the Northern Territory (NT) for restart.

The three proposed gold mines under the project, Tom’s Gully, Rustlers Roost and Quest 29, are located approximately 100km southeast of Darwin.

The $412 million project is expected to generate $1.78 billion in operating expenditure over its life, whilst construction will create 150 jobs over 18 months with operations expected to require 300 full-time jobs for 10 years.

“This project is a major goldmine for Territory jobs and for our economy – and it is great news for all Territorians,” Northern Territory Chief Minister Michael Gunner said.

“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.”

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 territory.

“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,” Northern Territory Minister for Mining and Industry Nicole Mansion said.

“Last year we established the Mineral Development Taskforce, to accelerate more investment and mining projects in the Territory.”

The operations will include the mines, a process plant and camp, and the proposed plant and mining operation will produce gold doré ingots.

During October and November last year, Primary Gold 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 more than $300,000 has been spent to set up the dewatering system with Darwin-based NPE company and local contractors.

“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,” Primary Gold chief executive officer and managing director Mark Qiu said.

“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.”

Mining construction is expected to commence in 2023, once the regulatory approvals process has been completed and a final investment decision has been made.

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