Northern Territory mining projects may attract property investment
The Northern Territory government has given the final tick of approval to an $8 billion mining development in the Roper region - a project that may attract property investment.
Announcing its go ahead yesterday (March 25), minister for mines and energy Willem Westra van Holthe said the Australian Ilmenite Resources SILL80 Project reaffirms the territory's position as a mineral hub.
With several major resource projects already underway in the territory, the latest development may further attract the interest of residential property investors as the NT becomes a hotspot for exploration operations.
"The country Liberals government is determined to increase our mining and energy hub and return jobs to the bush," the minister explained.
"This is a prime example of government working with private business to achieve mutually desirable goals."
The mine site, which is located approximately 105 kilometres east of Matarank, is believed to contain about 27 million tonnes of ilmenite.
Jerry Ren, director of Australian Ilmenite Resources, said the project will export 300,000 tonnes of AA grade ilmenite annually - a significantly higher quality than the A,B and C grades that are currently on the world market.