NT Bullion has shipped its first batch of iron ore in six years using processed waste materials at the Frances Creek Mine in the Northern Territory.
The Frances Creek mine shut down in 2015 due to low iron ore prices at the time.
NT Bullion purchased the site from Gold Valley Holdings last year.
According to Northern Territory Minister for Mining and Industry Nicole Manison, the restart of shipments will help deliver more local jobs.
“We know the Territory is resource rich and that a healthy mining sector will deliver more jobs, significantly boost the economy and keep us on track as the Comeback Capital,” Manison said.
“Jobs are critical to Territorians and companies like NT Bullion are well placed to take advantage of the fantastic investment opportunities in the Territory and the record high iron ore.”
The state government flagged the restart as a sign of confidence for its mineral industry after the shipment departed Darwin Port this week.
NT Bullion used x-ray technology to screen waste rock stockpiles and produce iron ore.
The company remains focussed on using the technology to convert low-grade ore into export-quality iron ore at a low cost.
The state government approved Frances Creek’s Mining Management Plan in March 2020 to allow existing ore stockpiles to be processed.
“As part of the Territory’s Economic Reconstruction, a focus on becoming a globally significant hub for minerals producing, processing and manufacturing centre is a high priority,” The Northern Territory Government stated.
“Developing the mining industry is also creating more jobs in regional areas for Territorians, which will keep the economy rolling and the Territory’s comeback on track.”
NT Bullion is a mining and services company that is 30 per cent Indigenous owned and 65 per cent Territory owned.