Forward Mining Limited is seeking approval to open a new magnetite iron ore mine with a potential to employ up to 200 people during construction and about 100 people during production.
If approval is granted, Forward Mining expects to commence construction work in late 2016 or early 2017.
Located at Rogetta, near Hampshire in Tasmania’s North West, the mine is expected to produce one million tonnes of ore per annum and export about $90 to $100 million of product at current prices.
Tasmanian Minister for Resources Paul Harriss highlighted the significance of the project, saying it would increase Tasmania’s net commodity export volume of iron ore from around 2.8 million tonnes to 3.8 million tonnes and generate hundreds of new jobs.
“Up to 200 direct jobs are expected to be created during construction and 100 through the life of the project and we know that, with the mining multiplier effect, this could lead to even more indirect jobs in the local economy,” the Minister said in a media release.
“This is a vote of confidence in Tasmania’s mining industry and shows that mining companies continue to want to invest in our state. The mining and minerals processing sectors are key pillars of this Government’s long term plan for Tasmania.”
According to him, the mining and metals sectors employ more than 5,000 people in Tasmania and represent almost 50% of the State’s net export value. The sector is also contributing significantly through service provision and the supply chain to the State’s regional area economies.