Vista Gold to restart mothballed Mt Todd gold mine in NT

alice springs

Alice Springs is the Northern Territory's third-largest town.

The Northern Territory Government has approved Vista Gold Australia’s mining management plan to recommence operations at the Mount Todd gold mine.

The mine is located 55 kilometres northwest of Katherine and has been on care and maintenance since 2006, after it ceased operations in 2000.

It was acquired by Vista in 2006, with the company aiming to produce semi-pure gold bars.

The NT Government’s mining management plan (MMP) approval was the final hurdle for Vista to restart operations.

Vista Gold president and chief executive officer Frederick H. Earnest said the approval is a significant milestone for the company.

“The approval of the MMP is a landmark achievement for Vista, its shareholders and the Northern Territory,” he said.

“We believe the approval of the MMP distinguishes Mt Todd as an attractive, de-risked, and partner-ready development-stage gold project highlighted by a large-scale production design, low expected operating costs, mining friendly jurisdiction, substantial existing infrastructure, strong social and government support, and all major authorisations in hand.”

Mt Todd is the largest undeveloped gold project in Australia and contains more than 7.8 million ounces of gold resources.

According to Vista, it will be the fourth largest gold producer on an annual basis if developed as intended.

The site has previously received an Aboriginal Areas Protection Authority (AAPA) certificate.

“Following extensive consultation with the Jawoyn people and local environmental, community and business stakeholders, we’re very pleased to be another step closer to delivering a project that is expected to provide significant economic benefit to the Northern Territory,” Earnest said.

“We would like to thank our employees and consultants for their unyielding determination as they worked diligently and cooperatively with the NT Government to advance the permitting process, and express our appreciation to the people in the surrounding communities for the strong support they have demonstrated for Mt Todd and Vista.

“We will continue to work closely with all stakeholders to ensure the safe and responsible development of Mt Todd.”

 

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