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Verdant Minerals has received approval for a mining licence for its flagship Ammaroo phosphate project in the Northern Territory.
In an early October announcement, the company said that the Finocchiaro CLP Government’s approval follows the granting of two mineral leases early 2025.
Minister for Mining and Energy Gerard Maley said the approval highlights the CLP Government’s commitment to supporting major projects that deliver jobs, investment, and long-term economic benefits for the Northern Territory.
“(I believe) Ammaroo will be a transformative project for the Barkly and Central Australia, and another example of the Territory powering the industries that drive our future,” Maley added.
Ammaroo is located approximately 270 kilometres northeast of Alice Springs and 95 kilometres from the Adelaide to Darwin Railway.
Its independent JORC resource is 1.141 billion tonnes phosphorus pentoxide at an average grade of 14 percent, and a cut-off grade of 10 percent.
This record is regarded by Verdant Minerals as “the largest JORC compliant phosphate resource in Australia and one of the largest undeveloped phosphate resources in the world.”
According to the company, the mining licence places it on track to reach a final investment decision and commence construction as early as mid-2027.
The project is expected to create around 400 jobs during construction. Once operational, it is projected to have 250 long-term roles and a production value of AU$15 billion over a 25-year mine life.
“Containing more than one billion tonnes of phosphate ore, Ammaroo is strategically significant for both agricultural development and clean energy technologies,” Verdant Minerals said.
The company highlighted phosphate as a vital ingredient in fertilisers and as a key feedstock in the Lithium Ferro Phosphate (LFP) battery supply chain.
“(This project) will help strengthen regional phosphate rock supply at a time of global uncertainty,” commented Verdant Minerals Managing Director Chris Tziolis.
“We’re ready to move from planning to execution and create a reliable, NT-made phosphate rock product for regional agriculture.”
As of late 2019, Verdant Minerals was delisted from the ASX following an acquisition by its majority shareholders, CD Capital Natural Resource Fund III and Washington H Soul Pattinson.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
