Large-scale gold mining has officially returned to the Barkly region after a two-decade hiatus, with Tennant Mines commencing at its $94 million Nobles operation.
Nobles is expected to produce an average of 60,000 ounces (oz) of gold per year and create more than 160 ongoing jobs over the next two years as production ramps up.
The mine commencing operations follows the acquisition by Pan African Resources of Tennant Mines in 2024, signalling strong investor confidence in the Northern Territory’s resources sector.
“This is a huge milestone for the Territory and an even bigger one for our Barkly region, highlighting a significant boost for regional economic development as our government rebuilds our economy,” Northern Territory Mining and Energy Minister Gerard Maley said.
“This project will deliver long-term benefits for local communities and the Territory economy and is the result of strong investment, good planning and a clear vision for the future of mining in the Territory.”
The first phase of Nobles includes processing existing stockpiles, before expanding to a series of open-cut and underground mines, with plans to increase production to around 100,000oz per year over the medium term.
“We’ve created meaningful job opportunities for Traditional Owners and Indigenous workers, with one in six of our roles filled by Aboriginal Territorians; almost all from the Barkly,” Tennant Mines managing director Peter Main said.
“We’ve spent more than $12 million with 212 Territory businesses, including over $7.3 million with 102 Barkly suppliers and $1.4 million with 23 Indigenous enterprises, six of which are owned by Traditional Owners right here in Tennant Creek.”
Pan African Resources executive director and chief executive officer Cobus Loots said the company searched globally for the right opportunity that delivers long-term value.
“We had assessed many projects across Africa and beyond for our next generation of growth, and found value and opportunity in Tennant Mines,” Loots said.
“We fully support Tennant Mines’ commitment to delivering enduring environmental, social, economic and community benefits for Tennant Creek, the Barkly and the Northern Territory.”
The gold sector delivered a production value of $1.4 billion in the Northern Territory for the 2023–24 financial year, with total mineral production valued at $4.32 billion.
Currently, there are 18 developing projects in the Northern Territory, with a combined potential capital expenditure of $6 billion.
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