Dolphin Tungsten Mine officially re
The Dolphin Tungsten Mine on King Island officially re-opened today, marking a momentous milestone in a journey years in the making.
Minister for Resources, Felix Ellis, said he was proud to be on King Island to support the event which is the one of the most significant projects seen in the region in recent years.
"Fourteen years in the making, it is tremendous to see this economic gamechanger get going," Minister Ellis said.
"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.
"It also provides a further economic boost to the local community with flow through to local businesses.
"Around $5 million will go into the local economy directly through salaries alone and, for the broader state, around $30 million is expected to be returned to the Tasmanian taxpayer through mining royalties and other payments.
"Essential to steelmaking, electronics and defence manufacturing, tungsten is a critical mineral the world cannot do without.
"It is commonly used in light bulb filaments, jewellery, electronics, metallic tools, aviation, space and defence uses and even in darts and high-performance 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.
"Having previously been closed since 1992, the Rockliff Liberal Government have supported Group 6 Metals (G6M) to revive the mine, including through a $10 million commercial loan and a $1.6 million grant to assist with the costs of establishing the energy infrastructure required 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 said.
"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.
"I congratulate the entire team at Group 6 Metals G6M and the King Island community on reaching today's milestone," Minister Ellis said.All donations are kept completely private and confidential.Thank you in advance!