Verdant Minerals has received mining permit approval for its flagship Ammaroo phosphate project in the Northern Territory.
Early October announcementthe company said the Finocchiaro CLP government’s approval follows the granting of two mineral leases early 2025.
Minister for Mines 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 to the Northern Territory.
“(I believe) Ammaroo will be a transformative project for Barkly and Central Australia, and another example of the area powering the industries that define our future,” Maley added.
Ammaroo is approximately 270 kilometers northeast of Alice Springs and 95 kilometers from the Adelaide to Darwin Railway.
The independent JORC resource amounts to 1.141 billion tons of phosphorus pentoxide with an average level of 14 percent and a limit value of 10 percent.
This record is considered 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 permit is on track to reach a final investment decision and start construction as early as mid-2027.
The project is expected to create approximately 400 jobs during construction. Once operational, it is expected to have 250 long-term functions and a production value of AU$15 billion over a 25-year lifespan.
“Ammaroo contains more than a billion tonnes of phosphate rock and is strategically important for both agricultural development and clean energy technologies,” Verdant Minerals said.
The company highlighted phosphate as an essential ingredient in fertilizers and as a key raw material in the lithium ferrous phosphate (LFP) battery supply chain.
“(This project) will help strengthen the regional supply of phosphate rock at a time of global uncertainty,” said Chris Tziolis, managing director of Verdant Minerals.
“We are ready to move from planning to execution and create a reliable, NT-made phosphate rock product for regional agriculture.”
In late 2019, Verdant Minerals was delisted from the ASX following a takeover by its majority shareholders, CD Capital Natural Resource Fund III and Washington H Soul Pattinson.
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Securities Disclosure: I, Gabrielle de la Cruz, have no direct investment interest in any company mentioned in this article.
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