Major Project Status has been granted to the Finniss Lithium Mine Project and the Mount Peake Vanadium, Titanium and Iron Mine and Processing Facility.
The Mount Peake project will see a mine site established about 235 kilometres north of Alice Springs and a facility set up in Darwin to produce and process vanadium, titanium and iron.
This is expected create up to 1600 jobs during construction and up to 1000 ongoing jobs during operation.
The Finniss Project will develop a mining facility near Darwin Port, which will produce lithium and generate more than 360 jobs during construction and more than 250 ongoing jobs during operation.
Major Project Status means the project has strategic significance to Australia. It provides companies with extra support from the Major Projects Facilitation Agency, including a single entry point for Federal Government approvals, project support, and coordination with state and territory approvals.
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Industry, Science and Technology Minister Karen Andrews said the projects will bring huge economic benefits to the Northern Territory and the rest of Australia.
“Lithium is a valuable export which will only become more important in the future, thanks to its use in a range of everyday items from electric car batteries to smart phones, pace makers and digital cameras,” Andrews said.
“Products using vanadium, titanium and iron are also in great demand and these two projects will see our nation capturing more value from these resources, which will create jobs in the Northern Territory and economic opportunities for all of Australia.
“For too long Australia has simply dug up and shipped our critical minerals overseas, but the Morrison Government has made it a priority for our nation to move up the value chain.
Resources, Water and Northern Australia Minister Keith Pitt said the granting of Major Project Status supports the Federal Government’s strategy to develop the critical minerals sector, while also supporting economic development and job creation across Northern Australia.
“These projects will be able to supply markets in Asia and Europe with critical minerals, and have the potential to increase downstream processing, increasing supply chain diversification,” Minister Pitt said.
“These are exactly the types of projects that our Government wants to see, as we build on our resource-rich history for the decades ahead.”