Australia's Northern Territory (NT) government approved a mining licence for Verdant Minerals' 2mn t/yr Ammaroo phosphate project on 8 October, the firm announced on the same day.
The approval of the mining licence is the next step towards construction and mining operations at the 1.14bn t deposit of phosphate rock. It also comes after the NT government granted two mineral leases to Verdant Minerals earlier this year.
Ammaroo is one of the world's largest undeveloped phosphate resources and is located 1,300km south of NT capital Darwin. Once operational, Verdant expects the project to produce up to 2mn t/yr of phosphate rock over a 25-year lifetime.
"With this approval secured, we will now move swiftly to finalise project funding with our lenders and partners, paving the way for a final investment decision and a targeted construction start in 2027," Verdant Minerals managing director Chris Tziolis said in a press statement.

