The resources sector in the Northern Territory continues to thrive, with the news that a new mining venture has been signed off on.
Australian iron ore exploration and development company Sherwin Iron has signed a project facilitation agreement, which will open up the Roper River for mining of iron ore.
Deputy chief minister David Tollner indicated that there will be significant economic benefits for the Territory as a whole – and it may even improve demand for apartments in Darwin and the surrounding areas.
Mr Tollner said: "The Sherwin Iron project will create 200 jobs in the construction phase and 400 by the time it's fully operational.
"Many of the workers will be sourced from the region including local Indigenous communities."
Initial production is expected to get underway later this month, with export volumes expected to reach up to three million tonnes per year.
The deputy chief minister said that the Territory is keen to attract projects such as these in order to stimulate economic growth and encourage regional development benefits.
The resources sector has already made its mark throughout the region by offering job opportunities to people from the local area, as well as boosting infrastructure investment for remote communities.