The Territory mines waiting in the wings

A number of Northern Territory projects are on the cusp of development or are set for a rebound. See our list.

As well as established mines, a number of projects have either stopped and started, or never quite started at all.

Most famously, Core’s Finniss Lithium project launched spectacularly in 2022, before going into receivership 18-months later.

Arafura Rare Earth’s Nolans critical minerals project first hit the Territory back in 2007 and despite more than a billion dollars of Commonwealth support, still hasn’t reached final investment decision.

Meanwhile, Darwin-based Tivan Limited, a major partner of the 2025 Future NT series, is forging ahead with its projects, returning outstanding results north of Alice Springs.

Read the projects that are on the brink of success - or otherwise.

Sandover and Speewah Projects - Tivan Limited (fluorite)

Tivan emerged from the ashes of failed Central Australian critical minerals project TNG and has since shifted its focus to fluorite, with the bankable Speewah prospect in Western Australia’s Kimberley its priority.

The company retains considerable interest in the Centre with its Sandover fluorite asset, which is believed to be one of the biggest in the world, and was this year granted NT Government exploration funding.

In an ASX update last month, Tivan reported further ultra high-grade flurorite assays returned at Sandover, which is located 100km north of Alice Springs, following completion of a second surface sampling program conducted by the company’s geology team in April and May.

Warrego mine rehabilitation - Northern Iron (Magnetite)

Lights till on at Northern Iron’s processing plant in June. Picture: Camden Smith

Owing $55 million when it was placed in receivership in May, the lights are on, but only a small production team remains at home in this revival effort at the old Warrego iron ore mine, about 25km west of Tennant Creek.

While receivers FTI remain tight-lipped about interest in the project, the NT News understands up to five organisations are considering the purchase or recapitalisation of Northern iron, with a conclusion possible as soon as the end of this month.

Nolans project – Arafura Rare Earths (critical minerals)

Arafura Rare Earths Nolans project March 2024

Even $1.4 billion federal government dollars can’t get this slow-burner (at least 17-years and counting) out of the ground.

China’s critical minerals dominance has spooked private investment and left some wondering aloud whether nationalisation is the pathway forward.

There’s a fantastically improbably rumour that a consortium of foreign governments including Canada, New Zealand and the United States will also invest in – and internationalise – this project, that would deliver thousands of jobs and transform Central Australia.

Wonarah phosphate project – Avenira Limited (Phosphate)

Another slow burner, the NT Government recently approved Avenira’s mining management plan, once again prompting optimism the project was on track for the first shipment of direct shipping ore.

Located about 300km east of Tennant Creek, as the country’s largest phosphate deposit, this would be another region-boosting winner for the Territory.

Finniss lithium project - Core (Lithium)

Core Lithium's Finniss project

Launched with much fanfare in October 2022, Core’s Finniss lithium mine was lauded for the speed and efficiency in which it went from exploration to production.

Unfortunately China’s dominance of world lithium markets saw the resource’s global price tank and the project was put into care and maintenance early last year in the hope prices bounce back.

Peko tailings - Tennora Resources Pty Ltd (Magnetite)

Another revival project near Tennant Creek, this one petered out less than a year after the mine was bought by Elmore Ltd for $30 million in July 2022.

The latest documents from the NT Government show that Tennora Resources Pty Ltd have purchased the flailing prospect, amid confidence on the back of the successful Nobles Nob revival.

Watch this space.

Rover 1 project - Castile Resources Ltd (Gold dore-cobalt-copper)

Awarded major project status by the previous NT Government Rover, about 80km southwest of Tennant Creek, has caught the eye of shrewd Barkly investors who like the prospect’s diversity.

Rover 1 will directly target gold dore and copper at 99 per cent and high-grade magnetite at 96.5 per cent.

Plans include a beneficiation plant and processing facility, with a potential workforce of about 120.

Originally published as The Territory mines waiting in the wings