Minister for Resources Felix Ellis said it is fantastic to see the mine re-opening, which took 14 years.
“With around 95 full-time jobs expected to be supported through this operation, the mine will be King Island’s single biggest employer, keeping roofs over the heads of local families and meals on their tables,” Minister Ellis stated.
According to Minister Ellis, the Dolphin Tungsten Mine will also boost the local economy by $5 million through direct salaries, while $30 million is expected to be returned to the Tasmanian taxpayer through mining royalties and other payments for the broader state.
Tungsten is a critical mineral in steelmaking, electronics, and defence manufacturing. It is used in various industries, including light bulb filaments, jewellery, electronics, aviation, space, and defence, as well as darts and race cars.
“The Dolphin Mine is known for hosting the highest-grade tungsten deposit of significant size in the western world. In recent years the tungsten prices have surged significantly, and it is now classified as a critical mineral by the Australian Government, and others globally,” Minister Ellis said.
Group 6 Metals has rehabilitated the Dolphin Tungsten Mine through support from the State Government, including a $10 million commercial loan and a $1.6 million grant to help with the costs of establishing the required energy infrastructure to restart operations.
“With an excellent potential to increase mine life beyond the initially projected 14 years with additional resources from the Bold Head deposit being examined, this is a long-term boon for King Island and our state,” Minister Ellis stated.
“The world cannot do without critical minerals, and Tasmania is blessed to have a number of these minerals in abundance. This is also exactly why Tasmania is supporting industry by developing our own critical minerals strategy,” he added.