Verdant Minerals says it now has crucial certainty with NT Govt grant of mineral leases

One of the largest undeveloped phosphate resources in the world in Central Australia has achieved another milestone.

Chris Tziolis

Verdant Minerals says it now has crucial certainty to progress the financing process for its much awaited Ammaroo Phosphate Project in Central Australia.

Managing Director Chris Tziolis said the grant by the Finacchiaro NT Government of the two mineral leases to Verdant Minerals for the project was a welcomed milestone, highlighting the importance of certainty for the project’s next steps.

The Ammaroo Phosphate project is one of the largest undeveloped phosphate resources in the world and will support 400 jobs in construction and another 250 jobs once in production.

Located about 220km southeast of Tennant Creek, the Ammaroo development has an estimated mine life of at least 25 years and an estimated capital expenditure of $700 million.

Phosphate is a critical component in many fertilisers used to increase agricultural productivity and global food security, reinforcing the strategic importance of the project.

“With the Project now consented to by Native Title Holders and the Northern Territory Government granting tenure, Verdant now has crucial certainty to progress the project financing process,” Mr Tziolis said.

“We thank the NT Government for their continued support of the project, and we welcome the steps taken by the new government to progress projects like ours.”

Gerard Maley Deputy Chief Minister of the Northern Territory Picture: Pema Tamang Pakhrin

Acting Chief Minister and Minister for Mining and Energy Gerard Maley said the CLP Government is delivering on its commitment to grow the Northern Territory’s resources sector and the leases were a critical step towards bringing a promising mining development closer to production in Central Australia.

“This is a significant milestone in progressing a world-class resource project that will support jobs, drive investment, and strengthen the Northern Territory’s position as a leader in resource development,” said Mr Maley.

“The Ammaroo project will deliver real benefits for local communities and businesses, and help deliver on our promise to rebuild the economy.”

Verdant Minerals is now in the final stages of securing its mining authorisation, which when granted will allow construction and other site works to commence.

“The Finocchiaro CLP Government is backing the resources sector because it is the backbone of our economy and a key driver of long-term prosperity for the Territory,” said Mr Maley.

“We are laser focused on supporting responsible resource development that delivers jobs, investment, and economic growth for all Territorians.

“We promised 2025 would be a year of action, certainty and security and that’s what we’re delivering for the Territory.”