Mining project awarded major project status
More than 100 local jobs could be created following the awarding of major project status to Thor Mining’s $69 million Molyhil tungsten / molybdenum project near Alice Springs.
The Northern Territory Government have signed a project facilitation agreement with Thor Mining, who will develop the Molyhil Mine 220km north east of Alice Springs.
The mine will produce tungsten which is commonly used for heavy metal alloys such as steel and used for drilling, the automotive industry and in aerospace.
The project will be a boost the Central Australian economy and is expected to create 40 jobs during construction and 59 ongoing local jobs over the seven year projected mine life.
Mick Billing, Executive Chairman of Thor Mining said, “we are delighted to have this level of support by the Northern Territory Government for Molyhil.”
“We expect Molyhil to generate tangible and meaningful benefits to the Northern Territory, with export income and job creation in the Alice Springs area and the local communities near the project, as well as positive returns for the company’s investors.”
Thor Mining has secured a number of approvals for the project so far, including a mining agreement with the traditional owners and environmental assessment.
A final investment decision will be made by the end of 2021, construction is expected to commence in 2022 with production commencing in 2023.