The Northern Territory (NT) Government has granted Verdant Minerals two mineral leases for the Ammaroo Phosphate Project in central Australia.
Located approximately 270km north-east of Alice Springs and 220km south-east of Tennant Creek, the project is said to be one of the world’s largest undeveloped phosphate resources.
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The Ammaroo project is estimated to contain measured, indicated and inferred JORC resources of more than one billion tonnes (bt) of phosphate ore (P₂O₅), making it Australia’s largest JORC-compliant phosphate resource.
It is expected to produce around two million tonnes per annum (mtpa) of phosphate concentrate.
Further processing will yield 500,000 tonnes per annum (tpa) of merchant-grade phosphoric acid (100% P₂O₅) and 200,000tpa of ammonia, which will be used to produce around one million tonnes of ammonium phosphate fertilisers such as di-ammonium phosphate and mono-ammonium phosphate.
NT Acting Chief Minister and Minister for Mining and Energy Gerard Maley said the leases mark a “critical step” towards bringing the project closer to production.
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By GlobalDataMaley said: “This is a significant milestone in progressing a world-class resource project that will support jobs, drive investment and strengthen the NT’s position as a leader in resource development.”
The Ammaroo development boasts a mine life of at least 25 years and an estimated capital expenditure of A$700m ($438.2m).
The project is nearing the final stages of securing its mining authorisation, which will enable construction to commence.
Verdant Minerals managing director Chris Tziolis said: “With the project now consented to by Native Title Holders and the NT Government granting tenure, Verdant now has crucial certainty to progress the project financing process.”
The Ammaroo project is expected to create approximately 400 jobs during the construction phase and 250 jobs once operational.
The project received Major Project status from the Federal government of Australia in 2020.
