Tasmania's mining workforce is set to benefit from the developments regarding the Beaconsfield Gold Mine, stakeholders have said.
Beaconsfield Gold Mine owners NQ Minerals revealed the mine still contained about $1.26 billion-worth of gold, further bolstering its plans to reopen the mine this year.
This news comes 14 years after the historic emergence of Todd Russell and Brant Webb from the mine in 2006. They were trapped after the mine collapsed, claiming the life of miner Larry Knight.
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Tasmanian Mining, Mineral and Energy Council chief executive Ray Mostogl said the announcement showed the mine remains a valuable resource.
"The other thing that's positive is there's a fully-established processing plant that's already there; it's not like a new mine that has to invest in all of that," he said.
"Obviously you don't have to spend some money to get the plant operational again but the fundamental investments are all there ... it also allows for a relatively quick start-up."
NQ Minerals chairman David Lenigas said the mine would possibly create 50 jobs in the early stages, with more than 100 planned further down the track.
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He anticipated 90 per cent of these jobs would be local.
Both Mr Mostogl and Northern Tasmania Development Corporation chief executive Mark Baker said the employment opportunities would help the region's economy.
Mr Baker added that Beaconsfield was impact upon the closure of mining in the town.
"More employment means more people living in or the near the area and spending their money locally, which has a multiplier effect to the economy," Mr Baker said.
"One has to be careful of assumptions, but perhaps this might also attract current fly-in, fly-out mining workers who wish to remain closer to home and therefore maintain and strengthen community connections."
Mr Mostogl said giving the limited impacts on the mining industry, pushing forward with developments such as that at Beaconsfield would boost the economy during these financially tough times.
"It's [mining] been disrupted from a people-moving point of view, but the mining export has continued on," he said.
"Mining's actually keeping something coming into the coffers which has and will continue to be critical."