Business news from across the Northern Territory: The latest business highlights include a new investment boost to enhance mining prospects of Tennant Creek, and Dollars and Sense opening their fifth NT discount store. Also making resource news is Kingsland to define an indicated resource for Leliyn in the NT, CLP approves revival of Pine Creek gold mine, and Bubalus set to secure land access for Nolans East.

Economy

Investment boost enhances mining prospects of Tennant Creek

Pan African Resources, a global mining company based in South Africa, has acquired Tennant Consolidated Mining Group, enhancing economic development in the Barkly region. The acquisition supports the construction of a gold processing plant at Nobles Nob, expected to be completed by mid-2025, with an initial production target of 50,000 ounces of gold per year for an eight-year mine life. The project will create approximately 160 jobs and has an estimated 1.3 million ounces of gold in resources, with potential expansion, the government said. The NT Government previously supported Tennant Mining with a $10 million loan to facilitate investment. This marks Pan African Resources’ first entry into the Australian market.

Companies

Dollars and Sense opens fifth NT discount store

Dollars and Sense has opened its 21st store, the fifth in the Northern Territory, at Coolalinga Central. The store soft-launched recently and features over 6,000 products across various categories, including seasonal merchandise, party supplies, home essentials, and more. This opening is part of a recent trend of new tenants at Coolalinga Central, which also welcomed Smokey J’s Brew and Cue, a restaurant by chef Justin Whitrow, and OPA! Greek Grill.

“This expansion marks another milestone in Dollars and Sense’s commitment to providing quality, affordable products to Northern Territory communities,” the company said.

Resources

Kingsland to define an indicated resource for Leliyn in NT

Kingsland Minerals is conducting a 3,000-meter reverse circulation drilling program to establish an indicated resource for the Leliyn Graphite deposit in the Northern Territory, which currently has an inferred resource of 194.6 million tonnes at 7.3 per cent total graphitic carbon (TGC), making it the largest graphite deposit in Australia. With a market cap of $15.23 million, the company aims to combine the indicated resources with the inferred ones for a Scoping Study to evaluate the economic viability of flake graphite production. Initial metallurgical tests have shown that a graphite concentrate with 94 per cent TGC can be produced, and further testing of a concentrate sample for purified spherical graphite used in EV and storage batteries is underway. Kingsland Minerals focuses on graphite, uranium, and nickel projects in the Northern Territory and Western Australia.

CLP approves revival of Pine Creek gold mine

The CLP Government has given the nod to revive the Fountain Head Gold Project in Pine Creek. This decision allows Patronus Resources Ltd to resume operations after a hiatus since 2008. This strategic move is not just a revival of a project but a step towards the government’s vision to stimulate the mining sector and attract investment, thereby accelerating regional economic growth, the Finocchiaro Government said.

The project boasts around three million tonnes of gold-bearing ore. It will introduce a new gold mill for ore processing, an evaporation pond for water management, an integrated waste landform for mine waste, and a comprehensive site rehabilitation plan. The approval came after significant changes in mining regulation, including the repeal of the Mining Management Act 2001 and updates to the Environment Protection Act 2019.

Bubalus set to secure land access for Nolans East

Bubalus Resources is awaiting final approval to begin clearing and drilling at the Nolans East Rare Earths Project in the NT, having received environmental approval. The company is discussing finalising a land access agreement with the pastoral station owner. It is optimistic about reaching a deal soon, though a timeline needs to be specified. Once this agreement is secured, Bubalus will hire contractors to prepare and drill the site. The project, covering 380 km in the Arunta Province, is considered promising for rare earths, and the company is focused on exploring critical minerals in the Territory and Western Australia.