The Northern Territory Government is supporting resource development at one of Australia’s most remote gold mines, delivering jobs, investment and royalties for the community.
The Tanami gold mine, owned by Newmont, is expected to produce approximately 380,000 ounces (oz) of gold in 2025. With gold prices soaring, this level of production is set to deliver millions in royalty revenue to the Northern Territory economy.
Tanami has been producing gold since the early 1980s and has held the title of the world’s largest gold producer since 2002.
“The Tanami mine is a powerhouse of gold production and a major economic driver for the Territory,” NT Mining and Energy Minister Gerard Maley said.
“With expansion works well underway and record commodity prices, this project represents long-term jobs, royalties and investment for the Territory, exactly what our government is focused on delivering in our year of action, certainty and security.
“Our mining sector continues to lead the way in rebuilding the Territory economy, and the Tanami operation stands as proof of the opportunities that exist when government and industry work together.”
Maley visited the Tanami development in June, which is located approximately 550km northwest of Alice Springs.
Maley travelled 1.3km underground to inspect the mine’s operations, including a new ore crusher and the key Tanami expansion 2 project.
The Tanami expansion 2 project is expected to increase the operation’s average annual gold production by approximately 150,000–200,000oz per year to 600,000oz per year for the first five years.
It is also expected to reduce operating costs by approximately 10 per cent, significantly enhance the mine’s production capabilities and extend its operational life well beyond 2040, supporting around 1800 jobs.
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