Mining licence approved for Ammaroo phosphate project

Mining licence approved for Ammaroo phosphate project

Australia’s Northern Territories Government has approved a mining licence for Verdant Minerals’ Ammaroo phosphate project. The approval follows the granting of two mineral leases in March and represents a critical step towards construction and mining operations at one of the world’s largest phosphate resources. Verdant estimates the value of production over the life of the mine to exceed $15 billion. Verdant says that securing the mining licence puts the project firmly on track to reach a final investment decision and commence construction as early as mid-2027. Located 200 kilometres south-east of Tennant Creek, the Ammaroo phosphate deposit contains more than one billion tonnes of phosphate ore.

Verdant Minerals Managing Director Chris Tziolis said: “Mining approval from the NT Government is a major milestone for Ammaroo and clears the way for Verdant Minerals to advance the process of project financing to enable the construction of the first stage of the project, delivering local jobs, contracting opportunities, and long-term economic benefits across the NT. Ammaroo will help strengthen regional phosphate rock supply at a time of global uncertainty. We’re ready to move from planning to execution and create a reliable, NT-made phosphate rock product for regional agriculture.”