The dynamic company is developing the Ammaroo phosphate project, 220 kilometres southeast of Tennant Creek.

Verdant has been granted two mineral leases for one of the largest undeveloped phosphate resources in the world.

The leases are a critical step towards bringing a promising mining development closer to production and a milestone in strengthening the NT’s position as a leader in resource development.

Ammaroo will support 400 jobs in construction and 250 in production.

The project has an estimated mine life of at least 25 years and an estimated capital expenditure of $700 million.

Phosphate is a critical component in many fertilisers used to increase agricultural productivity and global food security, reinforcing the strategic importance of the project.

Verdant Minerals is now in the final stages of securing its mining authorisation, which when granted will allow construction and other site works to begin.

Verdant Minerals’s Managing Director Chris Tziolis says now that the project has consent from the Northern Territory Government and native titleholders the company has “crucial certainty” to progress financing.

“We thank the NT Government for their continued support of the project, and we welcome steps taken by the new government to progress projects like ours.”

NT Minister for Mining and Energy Gerard Maley says: “This is a significant milestone in progressing a world-class resource project that will support jobs, drive investment and strengthen the Northern Territory’s position as a leader in resource development.

“The Ammaroo project will deliver real benefits for local communities and businesses.”

Ammaroo is capable of producing long-life, high-quality, ethical fertilisers to support the world’s growing food demand.

The project has a resource of one billion tonnes of phosphate, the largest JORC compliant phosphate resource in Australia and one of the largest undeveloped phosphate resources in the world.

Verdant announced discovery of the Barrow Creek 1 phosphate resource in late 2010. In 2013, the company acquired Central Australian Phosphate and aggregated the adjacent and contiguous resources to form the Ammaroo resource.

Ammaroo lies on pastoral lease land under native title held by three Aboriginal corporations – Kaytetye Alyawarr Awenyerraperte Ingkerr-wenh, Eynewantheyne and Kaytetye Tywerate Arenge.

Verdant has finalised an Indigenous land use agreement with native titleholders and is working with all native titleholders and the Central Land Council to protect cultural heritage and provide compensation, commercial, training and employment opportunities for local people.

In 2018, the company successfully completed a feasibility study on the export of phosphate concentrate from Ammaroo, which confirmed the technical and economic potential of the resource.

There are major markets in Asia as well as a significant domestic market in Australia, which are largely serviced by imports from China, Northern Africa and the Middle East.

Ammaroo is well located – there is a rail link to Darwin Port, which offers access to markets in India, South East and North East Asia to the north and Adelaide to the south.