“A more prosperous, competitive and regionally balanced economy”
An external review into Dalradian’s proposed underground gold-silver-copper mine in Tyrone has found that it will provide a “significant and timely stimulus” for the economy for more than 25 years should it receive planning permission.
The review, carried out by professional services firm EY, found that the project will create substantial economic benefits and that the Fermanagh and Omagh District Council area will benefit most of all.
Based on the experiences of other gold mines it is expected that c.90% of Dalradian’s employees will be recruited locally. The company has already committed £15m to a three-year training programme to commence alongside construction of the mine.
At a time when EY forecast that NI’s Gross Value Add (GVA) will be 3.4% lower in 2021 than pre-pandemic levels, Dalradian’s project will produce a welcome “long-term counter cyclical effect” to wider economic uncertainty.
Pending planning, this environmentally responsible project will be one of the largest private sector investments west of the Bann. It will deliver economic and social benefits which will be a once-in-a-generation opportunity for the region.
EY considered the mine’s potential economic and social impacts over time and concluded that the project will contribute to “a more prosperous, competitive and regionally balanced economy”. Focussing on the economic benefits, these will include:
- c.1,000 direct, indirect and induced jobs
- £40,000 average salary for 350 Dalradian employees (x1.8 the NI average)
- £21m in total annual salaries when operational
- £158m boost for the construction trade during the mine’s two-year build programme
- £46m in supply chain expenditure annually
- £360m to be invested in capital equipment