Tennant Creek hopes gold mine reopening marks return to 'gold capital'
Four decades after gold was last poured at Nobles Nob, the first bars of the precious metal have been produced at the mine's new processing plant.
It marks a return to large-scale gold production for the historic gold mining centre of Tennant Creek, a town of 3,000 people about 500 kilometres north of Alice Springs.
Tennant Mines said it planned to reach commercial production in July, ramping up to 52,000 ounces of gold production in 2026 and 100,000 ounces in three years.
At today's gold price, peak production would earn operators more than $500 million per year.
The community in the heart of the Northern Territory hopes the restarted mine will bring a return to the Barkly region's golden era.
Barkly Regional Council Mayor Sid Vashist said gold would help put the region back on the map.
"Barkly is no longer on the cusp, Tennant Creek is no longer on the cusp," Mr Vashist said.
Tennant Mines managing director Peter Main said 35 per cent of 160 newly created jobs would be filled by residents from the Barkly.
One in six jobs are currently filled by Indigenous Australians.
"Our policy is Indigenous engagement first, Barkly second, Territory third," Mr Main said.
"We are trying to work through programs with the Indigenous groups.
"That's a long-term plan."
The operators of the nearby Warrego Rehabilitation Project went into voluntary administration in April.
The iron ore project had promised about 70 jobs and up to $300 million for the NT.
Barkly MLA Steve Edgington said Nobles Nob's return was a boost for the region, as some other mining operations struggled.
Nobles Nob is the first project outside Africa for mid-tier gold producer Pan African Resources, which acquired Tennant Mining in November.
Pan African Resources CEO Cobus Loots said the project was the right fit for the company.
"For us it's about geology, and then also about the fit with the people," Mr Loots said.
"We found both geology and the people to be definitely aligned with what we look for."
Martijn Weezepoel has lived in Tennant Creek for 15 years, and shows off the towns history to visitors at the Battery Hill Gold Mining and Heritage Centre.
He hoped Nobles Nob's return would take the town back to its heyday.
"We're a very small town, so we need more people to come up here, more housing, more everything.
"As long as the government puts in a bit of effort and tries to get us up to speed, I think we really could make something out of it."
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News.com.au
an hour ago
- News.com.au
Victoria: Priciest homes revealed including Toorak record-buster
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Mr Bastas runs a healthcare empire through his leadership roles at Arrotex Pharmaceuticals, myDNA and DBG Health. Mr Savas said the upper end of the Melbourne market has remained resilient. 'Many are taking a generational view — prioritising long-term security, lifestyle alignment and legacy over short-term market fluctuations,' he said, 'At the same time, favourable economic conditions, including the low Australian dollar, continue to attract international interest — particularly from expatriates and global buyers looking to establish roots in Melbourne.' The luxurious six-bedroom mansion at 2-4 Macquarie Rd fetched a figure in the vicinity of $70m shortly before Christmas. Automation platform Neota chairman John Lord and his wife Sue sold the home where visitors are greeted with a sweeping marble staircase, and are likely to enjoy a dedicated basement cinema or the home's temperature-controlled wine cellar and tasting room. Forbes Global Properties' Michael Gibson handled the listing – along with another $40m Toorak pad that changed hands off market. Mr Gibson said there was often multiple buyers for homes prices at $10m to $30. 'The premier market over the past year has been as strong as ever … one thing we are short on is properties to sell,' he added. When it came to luxury features it wasn't uncommon for homeowners to want double-level basements for entertaining, exercising and storing car collections, said Forbes Global Properties director Robert Fletcher, who oversaw a $29m Toorak deal in March. 'I think people who have a large amount of cars tend to look for space for between six to eight cars,' he said. Forbes colleague, senior associate Tracy Tian Belcher said some buyers were more hesitant to buy amid uncertainty about many cuts will be made to Australia's official cash rate across the second half of 2025. Ms Belcher said that even if clients were quite well off, the 13 hikes interest rates across the nation between May 2022 and November 2023 had affected many of them – while reporting on current economic conditions could impact people's emotions. 'Last year, one of my buyers was involved in a six-month long negotiation process for a Toorak home,' Ms Belcher said. Melbourne Sotheby's International Realty managing director Antoinette Nido and colleague Max Ruttner oversaw a $25.6m South Yarra transaction in December. 'Look at me addresses' were important to many recently cashed-up buyers, Ms Nido said. 'What's notable is that a lot of young business people who have made money in IPOs are doing very well,' she said. 'People who you have never heard of will call and when you ask how much they want to spent, it can be $40m to $50m.' Marshall White group sales director John Bongiorno said demand in the Melbourne prestige market's top end had consolidated in the past 12 months as the city's population boomed. 'I think that there are more buyers in the $10m-plus category,' Mr Bongiorno said. 'The amount of people out there with substantial wealth, it's a far bigger than what it was 12 months ago, two years ago, five years ago.' Marshall White handled the $30m-plus sale of a French Provincial-inspired Canterbury house boasting a 16-car showroom, eight bathrooms, a cinema and day spa with a sauna in March, listed by agents Andy Nasr and Marcus Chiminello. Many top-end buyers were taking a long view, prioritising the security, prestige and practicality of homes over price movements, Kay & Burton Stonnington director Darren Lewenberg said. 'These aren't short-term flips, they're generational homes,' Mr Lewenberg said. Many homes that transacted had been fully rebuilt or renovated by architects and interior designers well before being listed. 'Buyers at this level don't want to lift a finger. They want to walk in and start living,' Mr Lewenberg said. Industry Insider Property founder and prestige buyers agent Andrew Date said the surge in off-market deals was one of the most notable shifts in 2024–25. 'Most of the biggest sales never hit the portals. They're done over lunch, through networks, and only involve a few key people,' Mr Date said. 'These homes are so rare, they're not just about location, but land, architectural pedigree, and lifestyle.' Mr Date said prestige demand had also crept further afield especially towards the Mornington Peninsula. 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News.com.au
an hour ago
- News.com.au
Top 20 sales: Sydney king of the mansions as $1.1bn in homes sell
Sydney has retained its crown as the king of prestige residential real estate in Australia, despite an incursion by upstart Melbourne into the top 20 most expensive sales for the financial year. Sydney mansions took out 17 of the top 20. Melbourne managed the second, and fourth spots in the top 10, and 18th in the Top 20. And the only apartment on the list is also in Sydney. The top 10 sales add up to around $716m worth of real esate while the top 20 have a combined worth of around $1.12bn. The rogue Melbourne homes in the top 10 are two mansions in the exclusive suburb of Toorak, one which reportedly sold for between $115m-$125m (early reports of $150m have been ruled out) and another for $70m. Billionaire chicken heiress's record-breaking sale Director of leading prestige property valuers and author of the Dyson Austen Top 10 Prestige Residential Survey Simon Feilich says the latest results don't suggest Sydney's top-end homes are falling out of favour. 'It's the first time Melbourne has featured so prominently,' Feilich notes. 'These are two highly unique distinctive properties in premier, A-grade locations. 'Ultimately, it came down to the exceptional quality of the homes and significant land holdings.' Ray White Double Bay's Adam Reichman, who recently sold the sixth most expensive property in the country at $55m, doesn't expect Melbourne to come this close to being top dog very often. 'The reality is that if you're looking at trophy real estate, Sydney's got some of the best and most iconic landholdings in Australia by far, with luxury properties and waterfronts,' he said. 'These properties are very rare commodities and when they do get snapped up, buyers pay a premium.' There was also a $40m sale in Queensland, which comes in at No.19. 1. 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Crown penthouse, Barangaroo, circa $80m James Packer adviser Lawrence Myers is tipped to be the mystery buyer of the 849sqm six-bedroom six-bedroom residence on levels 81 and 82 of the casino building tower, sold at the start of the month, via The Agency's Steven Chen. 4. Macquarie Rd, Toorak, about $70m A six-bedroom mansion with pool and tennis court on a 7168sqm block owned by Sue Lord, wife of automation platform Neota chairman John Lord, sold last December via Forbes Global Properties director Michael Gibson. 5. 38 Vaucluse Rd, Vaucluse, $56m The highest Sydney sale of the calendar year was a knockdown with iconic harbour views on a 1400sqm block owned by 98-year-old philanthropist Isaac Wakil sold a few weeks ago via Ray White Double Bay's Riki Tawhara and Elliott Placks, with buyer's agent Simon Cohen introducing the local family who are planning a dream home. 6. 69 Wolseley Rd, Point Piper, $55m Just before the Vaucluse sale, the luxury four-bedroom home on a 703sqm block owned by Retail Apparel Group co-founder Stephen Liebowitz and his wife, Pam, sold via Ray White Double Bay's Adam Reichman and Elliott Placks in conjunction with Michael Pallier of Sotheby's. It had a pool and iconic harbour views. 7. 12 Dumaresq Rd, Rose Bay, $55m The Bruce Stafford-designed six-bedroom residence owned by recycled shopping bag tycoon Frank Qiang Gengh and his wife Juanjuan Zhao sold in February, having had a $20m price cut from the $75m when first listed last June. But the sale, via Michael Pallier of Sotheby's and Brad Pillinger of Pillinger, was still sufficient to nab the Rose Bay house price record. 8. 69 Fitzwilliam Rd, Vaucluse, $52m This sale, last November, was the waterfront home of Dawn Lincoln-Smith, which last traded for £19,500 in 1958 when bought by Lincoln-Smith and her late husband Paul Lincoln-Smith, the former chairman of Magnum Gold and Magnum Resources. By Highland Double Bay Malouf director David Malouf in conjunction with Michael Pallier of Sotheby's. 9. 78 Kambala Rd, Bellevue Hill, $48,500,000 Award-winning film producer Warwick Ross whose first big break was the 1980 classic The Blue Lagoon sold his stunning mansion ahead of a mega international campaign in March. McGrath Double Bay's Luke Hogan and William Manning did the deal with buyer's agents Simon Cohen and Isabella Lucas. 10. 28 Victoria Rd, Bellevue Hill, $45m The French Riviera-inspired residence on a 1,252sqm block of hardware tsar turned property developer Fedor Czeiger and his wife, Elizabeth, sold in a private deal between neighbours in March. The couple had bought the four-bedroom for $6.25m in 2012 from the estate of the late Lady Sonia McMahon. 11. 45 Kambala Rd, Bellevue Hill, $45m Ellie Tavakoli of the eastern suburb's Tavakoli family, who operates national retail group ACS Designer Bathrooms, sold a rebuilt home with pool and tennis court on a 1183sqm block via Highland Double Bay Malouf director David Malouf in conjunction with Alex Lyons of Raine and Horne Double Bay. Updated property records show the buyer was Elham Dalvand. 12. 53-55 Cranbrook Rd, Bellevue Hill, $43,500,000 Food blogger and renowned mansion renovator Stephanie Conley-Buhre's September purchase of 'Monkton', via McGrath Double Bay's William Manning and buyer's agent Simon Cohen, followed her $80m sale of the Bellevue Hill Spanish Mission-style residence, Alcooringa, last June. Monkton was owned by veteran investment banker Tim Burroughs and his wife, Judith, who'd bought it for $30m 18 months before. The five-bedroom home, on a 1,252sqm block, has massive rooms, harbour views and enormous potential. 13. 16 March St, Bellevue Hill, $43m The Bellevue Hill mansion of fashion stylist and personal shopper Natalie Jacobson and husband 'Wazza' sold in April. The five-bedroom recently completed three-level home on a 1278 sqm block came with a resort style heated magnesium pool, championship-grade tennis court with lighting, state-of-the-art gym, infra-red sauna and cinema. It sold after three weeks via Ray White Double Bay's Ashley Bierman and Elliott Placks. 14. 49 Coolawin Rd, Northbridge, $42.75m The largest waterfront landholding in Northbridge reset records on Sydney's north shore when it sold in February via Michael Coombs and Andrew Drury of Atlas. Sydney-based Manrong Xu snapped up the grand estate on a 3434sqm block, records show. Coombs said at the time of the listing in late January: 'In my two decades of real estate, I've never come across a waterfront property like this.' The vendor was Kristie Ward of the Primo Smallgoods family. 15. 26 Olola Ave, Vaucluse, $42m The five-bedroom, six-bathroom residence on a massive 2266sqm block came with pool, championship-sized tennis court and harbour views to the Manly headlands yet it took 21 months to sell. Its most recent agents, Highland Double Bay Malouf's David Malouf with Michael Pallier of Sotheby's, had a $45m guide. When listed initially with different agents the guide was $50m-$55m. 16 96 Victoria Rd, Bellevue Hill, $42m EverBlu Capita founder Adam Blumenthal and his wife Annabelle Shamir sold their trophy home to IT entrepreneurs Olivia Skuza and Heath Wells, returning from Monaco, in a late-night deal last November. The six-bedroom, five-bedroom mansion sold via Ray White Double Bay's Ashley Bierman and Elliott Placks with Pillinger's Brad Pillinger. Buyer's agent Simon Cohen introduced the buyers. 17. 7 Bradley's Head Rd, Mosman, $40m The record-breaking $40m off-market sale of the grand merchant mansion, Kia Lama, owned by Sydney Swans chairman Andrew Pridham occurred last August via Michael Coombs of Atlas. It best the previous Mosman record of $33m for a knockdown rebuild on the Balmoral slopes two years ago. Pridham, who is also an investment banker, bought the home on a 2600sqm block, with tennis court, pool, gym and views to the city for $6.05m more than two decades ago and did a major reno. 18. Myoora Rd, Toorak, $40m Long-time owners Dion and Sandra Abrahams thought they had their 3700sqm property opposite trucking magnate Lindsay Fox's sprawling compound offloaded in February 2024, but the sale to Phoenix Lithium CEO Nick Wakim fell through. Records show it sold last October at the same price, via Michael Gibson of Forbes Global Properties, to Juan Ma. 19. Jefferson Lane and Fourth Ave, Palm Beach, QLD, $40m The deal on this amalgamated beachfront block (1525sqm over three titles) set a new Queensland residential sale price record when finalised last September. It was sold by former Sydney Swans AFL player and property investor Tony Smith, who owns FINNS Beach Club in Bali. The Brisbane buyer plans to demolish the 1960s beach shack, villa, and timber pole house on the site to make way for two new beach homes. 20. 1 Rawson Rd, Rose Bay, $38,500,000. A Rose Bay dream home that took the Pacanowski family six years to build during Covid sold to the co-owner of Lowes Menswear, Jeffrey Mueller and his wife, Stephanie, last July. It sold via Biller Property's Paul Biller and Ben Torban. Jeffrey Mueller co-owns the iconic Lowes brand with his sister, Linda Penn, who is CEO.
News.com.au
an hour ago
- News.com.au
‘Buyer beware': Huge change to how homes are sold in Qld
Queensland's real estate industry is bracing for new laws which will make it the nation's most regulated major market – but buyers' advocates say the reforms still fall short. The landmark seller disclosure scheme effective from August 1 will 'fundamentally alter' how homes are sold, according to industry experts. Sellers will have to share a wide range of details about their property before contracts are exchanged, including zoning, rates and water charges, tree orders or heritage listing, government orders requiring work or money, and any building work carried out by an owner-builder in the last six years. But the pendulum still swings to 'buyer beware', with controversial omissions including the structural soundness of the building or pest infestation, the presence of asbestos, and any history of flood or other natural hazards. Real Estate Institute of Queensland CEO Antonia Mercorella said the changes to the Property Law Act was one of the most significant since it was introduced in 1974. 'While this is a meaningful change that enhances consumer protection, it's important for buyers to understand that the seller's disclosure regime may not prescribe or encompass everything they may wish to know about a property, and accordingly they should still conduct their own due diligence,' Ms Mercorella said. 'The 'buyer beware' principle continues to apply in Australia.' Ms Mercorella said the peak body had been pushing for a clearer disclosure process for more than a decade, which had been 'largely delivered' by the legislation. Challenges included ensuring sellers had easy and low-cost access to the information they had to reveal to buyers. Brisbane buyers agent Melinda Jennison said the updated minimum disclosure requirements lacked in areas 'buyers are commonly exposed to risk'. 'It would have been great if sellers were required to disclose any uncertified or unapproved building work that had taken place at the property,' Ms Jennison said. 'Sellers should also be obligated to disclose any previous building or pest defects that have been identified in the past, even if those issues have since been addressed. 'The availability of past inspection outcomes would provide an important layer of transparency for buyers.' Ms Jennison said this information would allow buyers to make better informed decisions, rather than having to undertake costly investigations of their own after contracts were exchanged. Property lawyer Bryce Melville, of Redemont, said Queensland's new seller law was tougher than its counterparts in NSW and Victoria, noting seven specific disclosures that were not required by either of the two other states. 'Sellers and agents need to prepare now,' Mr Melville said. 'For the first time, sellers must provide a full set of disclosure documents, including title searches, planning certificates and environmental notices, before a contract is signed, or risk the contract becoming void. 'The changes bring Queensland in line with Victoria and NSW, but go even further, setting a new national benchmark for buyer protection.' Chris Burling, of Business Depot Legal, said the reform aimed to boost transparency and avoid disputes by giving buyers crucial information upfront. But it was 'not a free pass', Mr Burling said. 'Unlike other states such as NSW and Victoria, Queensland has historically operated under a 'buyer beware' model, placing the onus on the buyer to uncover crucial property details through independent due diligence,' Mr Burling said. 'This has often left buyers vulnerable to unexpected risks and financial loss if key issues weren't identified before entering into a contract.' The new rules were expected to create a ripple effect through the market, potentially delaying off-market deals and auctions as sellers would need to engage a solicitor earlier to prepare the disclosure documents. Ms Jennison said the reforms, while 'a step in the right direction', left room for improvement. 'In particular, standardising the disclosure of known historical issues would significantly reduce buyer vulnerability and improve transparency across the market.'
