Vista welcomes Government boost for mine

Vista Gold has welcomed the Northern Territory Government's decision to award its Mt Todd gold mine major project status.

In a statement today Vista CEO Frederick Earnest said the decision showed the Government had faith in the project and was committed to boosting the mining sector.

 

“Major project status is an indication of the Government's continued focus on the Mt Todd gold project and commitment to regional development in the Katherine region,” he said.

 

“Areas of shared interest – whether related to the departments of Mines and Energy, Treasury, Lands and Planning or Environment – will now be handled at the highest level within the NT Government, with coordination provided by the office of the Chief Minister.

 

“This decision recognises the significance of the project and its benefit to the future development of the NT.”

 

Vista is currently preparing to reopen the gold mine at Mt Todd, and the site is estimated to hold around 7 million ounces of gold, with a further 2 million ounces inferred.

 

In announcing major project status for the site earlier this month, NT Minister for Mines and Energy Willem Westra van Holthe welcomed Vista's plans for the north of the state.

 

“The Mt Todd site is an environmental legacy mine; what Vista proposes to do is to turn a problem into an opportunity,” he said.

 

“This project still relies on a final investment decision; awarding major project status is how the Territory Government can give it the best possible chance of going ahead.”

 

Image: Australia's Golden Outback

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