The chief minister of the Northern Territory, the Honourable Michael Gunner MLA and Thor Mining chairman, Mick Billing, announced a Project Facilitation Agreement (PFA) between the government and the company on Saturday, July 4.
The company is currently pursuing US$43mln in project finance for the development-ready Molyhil project.
In a statement, Gunner commented: "The Northern Territory is the rebound capital of Australia. We are the safest, and quickest to get back to business. The Territory government's focus is on creating jobs for Territorians - this project will support 59 ongoing jobs in Alice Springs with a further 40 jobs supported during construction.”
Billing was equally positive. "We expect Molyhil to generate tangible and meaningful benefits to the Northern Territory, with export income and job creation in the Alice Springs area and the local communities near the project, as well as positive returns for the Company's investors,” he said.