Tennant Mining has commenced construction of its Nobles Nob gold mine, located about 13km southeast of Tennant Creek in the Northern Territory.
Gold was first extracted at Nobles Nob from underground operations that started in the early 1930s, which was followed by open-cut methods from the 1960s. Open-cut mining at the operation finished in 1985, but gold production continued until 1992.
Now, more than 30 years later, Tennant Mining has started civil works at Nobles Nob. Construction and commissioning are expected to be completed in the second quarter of 2025, followed by gold production commencing in the third quarter of 2025.
To enable gold from Nobles Nob to be mined and processed on-site, Tennant Mining is also constructing a gold processing facility 14km outside of Tennant Creek.
Tennant Mining managing director Peter Main told the ABC that restarting Nobles Nib could produce 65,000 ounces of gold annually, starting from 2025.
“It’s got a resource base of 1.1 million ounces and a reserve base of 400,000 ounces,” Main said.
And the timing couldn’t be sweeter, with gold prices currently sitting at around $US2330 per ounce.
The project will first focus on mining historical stockpiles and tailings at the Nobles Nob open pit mine before the development of open-cut and underground mines starts.
Nobles Nob’s first phase is expected to extend over an eight-year period, but ongoing exploration program across the Tennant Creek mineral field could extend its lifespan to more than 15 years.
According to the NT Government, Nobles Nob is expected contribute $69.9 million to the NT economy each year, as well as more than 80 new jobs during the construction phase and more than 160 ongoing jobs after operations ramp up over the first two years of production.
“We’re backing projects like the Nobles gold mine project and its processing facilities because it will create hundreds of work opportunities for Territorians and deliver a major boost to the Territory’s economy,” NT Mining Minister Mark Monaghan said.
“The resources and mining sector is critical to the Territory’s economy and that’s why we are working with companies so they can grow and deliver the biggest benefits to the Territory.”
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