Business news from across the Northern Territory: The latest highlights include Tennant Mining set to resume ‘large-scale’ gold mining in the NT as the Nobles Gold Mine Project’s construction begins, the NT Government has awarded ADG Engineers Darwin $330,000 for the design and upgrade of Cox Peninsula Road, and Reece has opened a new branch in Berrimah.  Also making resource news, Central Petroleum extending the Arafura gas agreement, Eastern Metals gaining a grant for Arunta exploration, and the latest technology to boost Astute metals’ mining operations.

Economy

Tennant set to restart large-scale gold mining

Tennant Mining is set to resume ‘large-scale’ gold mining in the NT as the Nobles Gold Mine Project’s construction begins. Construction work is underway and is scheduled to be finished by the second quarter of next year. Gold production is expected to start in the following quarter, with the initial focus on mining stockpiles and tailings at the site. The development of open-cut and underground mines will follow. The project’s first phase will last eight years, with an ongoing program in Tennant Creek Mineral Field designed to extend the project’s lifespan to more than 15 years.

The Nobles Mine is forecast to be worth $69.9 million to the NT’s economy annually and expected to yield an average of 65,000 ounces of gold annually. The NT gold industry had an assessed production value of $2.2 billion in the 2022-23 financial year.

Construction

ADG gets $330,000 for Cox Peninsula Road upgrade

ADG Engineers Darwin has been awarded $330,000 by the NT Government for the design and upgrade of Cox Peninsula Road between Litchfield Park Rd and Fog Bay Rd, with a new three-kilometre passing lane and tie-ins to be created. Construction is set to begin in next year’s dry season.

Upgrades are currently being done at the Cox Peninsula and Southport Rd intersection, including dedicated left and right turn lanes onto Southport Rd. Upgrades are underway at the Cox Peninsula and South Port Rd intersection, with dedicated left and right turning lanes onto Southport Rd being delivered. This upgrade is scheduled to be finished later this month.

Cox Peninsula Road, a major arterial road, is currently a single-carriageway, dual-lane sealed road with narrow lanes and shoulders. Pavement strengthening, widening, and constructing a new passing lane will make this road safer for all users. The Northern Territory and the Australian Government jointly funded the projects under the $45 million Road Safety Program in Tranches 4 and 5. Total funding for both projects is $6.45 million.

Economy

Reece opens in Darwin

Australia’s leading supplier of bathroom and plumbing supplies, Reece, has opened a new branch in Berrimah, with its plumbing and HVAC offices having moved to several new locations as part of the opening. Reece also opened two new regional branches: Reece Fire and Reece Irrigation & Pools, marking both businesses’ first entry into the NT.

Reece Irrigation & Pools offers dedicated industry expertise for the pool builder, pool service tech markets, landscaper, and grower markets and will also offer NT customers access to a range of leading brands such as Rain Bird, ENKi, VADA, Henden, and Theralux.

The multisite will provide customers with one-stop access to a wide range of quality products, on-site delivery, and a specialist team of replicators across various industries.

Resources

Central Petroleum extends Arafura gas agreement

Oil and gas producer and NT’s largest onshore gas operator, Central Petroleum Limited, said it had extended its gas supply agreement with Arafura, moving the condition precedent date from June 30 to July 31 this year. Central Petroleum said it continues solidifying its market position, aiming to become a significant domestic energy supplier, with extensive exploration and development plans across its vast NT tenements.

Eastern Metals gains grant for Arunta exploration

The NT Government’s co-funding of geophysical surveys at its Arunta Project provides a significant boost for Eastern Metals Limited’s exploration activities, the company has said. The funding, awarded under the Geophysics and Drilling Collaborations Program, will help uncover new drilling targets and advance geological understanding of the region. This support is anticipated to accelerate the discovery of additional high-grade mineral lodes on the company’s tenements.

New technology to boost Astute metals’ mining operations

Astute Metals has used Fleet Space Technologies’ ExoSphere ambient noise technology to help characterise the thickness of cover and explore seismic velocity anomalies in basement rocks to further its exploration of large-scale copper and silver-zinc-lead deposits in the NT. Fleet Space director and chief financial officer Federico Tata-Nardini said the partnership would help to redefine mineral exploration.

“I am very pleased with the collaborative partnership we have formed with Fleet Space to unlock further the significant potential of the Georgina project for Tier-1 base metal discoveries,” Astute chairman Tony Leibowitz said. Fleet Space can take up a direct equity stake in Astute of $400,000 at a subscribing price of $0.047 per share.