Tuesday 4 April 2006
ABC NT Country Hour
Report: Kate Sieper

Come the end of the Dry, Compass Resources are ready to roll. They are the company working near Batchelor and hope to shortly have in operation a cobalt, nickel and copper mine. They are actively exploring for uranium and the chairman, Gordon Toll says they hope to become a uranium miner.but either way they are in for the long haul.

"The funds we've just raised, we've just raised $AU40 million in New York, will all go to the copper, cobalt, nickel project. That will be a 10-year project but we're going to follow very quickly with a much larger sulphide project. The initial project will employ about 80 people, but the sulphide project should employ in excess of 400 people. The initial investment is $55 million but for the second phase of base metals, copper, cobalt, nickel and lead requires about $AU350 million."