Jobs are on the way to the Northern Territory, after the signing of two major Project Facilitation Agreements (PFA).

The territory government has signed a PFA with Australian metals firm TNG for its TIVAN metals refinery, part of its Mount Peake vanadium-titanium-iron project.

The high tech site will be used to produce high purity products from the vanadium-titanium-iron deposit located 235km north west of Alice Springs.

The mine and its associated refinery are expected to provide over 1700 jobs during construction and 600 ongoing positions.

Chief minister Michael Gunner says the new deals are a major step in providing work for hundreds of people in the north.

“This is a $850 million project with potential for 500 jobs during construction and more than 200 jobs during operation of the mine, plus more than 1200 jobs during construction and 400 jobs during operation of the refinery,” he said.

The Mount Peake project was recently elevated to Major Project Status.

“This agreement is a further indication of the proactive and positive approach which the Northern Territory Government is adopting to help facilitate the development of this major new Australian resource project,” said TNG managing director Paul Burton.

“The TIVAN refinery is a value-added downstream process which we expect will bring significant economic benefits to Darwin and the Northern Territory and help to enhance the region’s position as the development hub for Northern Australia.”

TNG is yet to complete its Environmental Impact Study for the refinery.

Meanwhile, the NT Government has also granted Verdant Minerals a Major Project Status and a PFA for its Ammaroo phosphate project.

The $750 million project near Tennant Creek should provide up 500 jobs during construction.

Mr Gunner says Verdant should be able to start construction in the second half of 2018, for an operational date in late 2019.

Verdant Minerals managing director Chris Tziolis said the project would start benefiting the region almost immediately.

“The development of Ammaroo and other fertiliser mineral projects in the Territory could in time enable the value adding to the minerals to produce finished fertiliser products to service demand in both Asia and Australia, which now imports most of its fertiliser needs,” he said.

“We look forward to working closely with the relevant NT Government agencies to deliver the project as a starting point to the development of what could be a significant long term industry for the Northern Territory.”

The PFAs allow Verdant and the NT Government to collaborate throughout the approvals processes.

Environmental Impact Statements are due later this year.