The government said the project was one of its five major growth priorities ahead of the upcoming budget and has committed to a feasibility study into building a common user mine and processing facility in the town.
This study will determine the viability of the project with the aim to be to allow small mining operations to start up without the cost of a major investment in a processing plant.
The Association of Mining and Exploration Companies welcomed the announcement.
“The Northern Territory mining industry is looking to the future with Monday’s announcement by the Chief Minister Michael Gunner to fund a feasibility study into constructing a common user mine and processing facility in Tennant Creek,” AMEC CEO Simon Bennison said.
“It is a fantastic outcome for those small miners who may just need that extra incentive to invest or expand in the Northern Territory.”
Bennison said there was strong competition in Australia to attract mining investment, and a facility like the one proposed in the NT could make all the difference.
“Mining is an important contributor to the Northern Territory, creating jobs, regional development and revenue streams for Government,” he said.
