The large Mount Todd gold mine near Katherine is gearing up to restart production, after nearly three decades in hibernation.The soaring price of gold, on a bull run since 2020, has led to gold mines reopening and expanding across the NT — including in the Tanami, and near Tennant Creek.Brent Murdoch says the mine's last key investment decision is reliant on the final regulatory approval being secured. (ABC News: James Elton)Mount Todd manager Brent Murdoch said Canadian firm Vista Gold, which operates the mine, was "right on the precipice" of a final investment decision, once final regulatory approvals were secured."Then we're off and racing," Mr Murdoch said.One gram per tonne now worth the effortThe Mt Todd mine has been dormant since 2000.A combination of a poor gold price and the expense of extracting the gold from the extremely hard rock at Mt Todd had previously made the project unviable for its previous operators.With an estimated 10 million ounces, Mt Todd is one of the biggest known gold deposits in the NT, rivalling the massive underground Newmont Tanami project in central Australia.But the concentration of gold is low.Brent Murdoch says the nature of the deposit means one tonne of ore will reap about one gram of pure gold. (ABC News: James Elton)"Our deposit here … [is] very large, but it's a low grade deposit," Mr Murdoch said."So our average feed grade into the processing plant is just over one gram per tonne."Significant improvements in grinding machines over the past three decades, as well as the recent increase in gold prices, means Vista has decided the effort is now worth making.More than 300 ongoing jobs promisedDespite the improvements in the gold price and grinding technology, reopening the mine remains a massive undertaking.An on-site gas-fired power station will need to produce roughly half the energy it takes to power Darwin. Vista Gold says the initial construction phase will require approximately 450 workers, while ongoing operations throughout the mine's planned 30-year life span will need between 320 and 400 workers.A collection of rocks gathered from the Mount Todd gold mine, north of Katherine. (ABC News: James Elton)The question of where those workers will come from is contentious.A technical report published by Vista last year said "90 per cent" of the "initial" workforce would be FIFO, housed in a "250-bed permanent camp" near the mine.But they say they want to grow the local workforce over time.Mr Murdoch said Vista was in discussions with the NT government about addressing housing shortages in Katherine. "As we intend to bring as many people into the regional area as we can, we will need to address that housing issue," he said."We'll make sure that we're part of that solution before we make the problem worse." The Mount Todd gold mine features an open-cut pit called the Batman pit. (ABC News: James Elton)Local Aboriginal people seek 'first crack' at jobsThe mine sits on Aboriginal freehold land, and Vista and the local Jawoyn Association both said deals had been struck for royalties and preferential access to jobs.Robert Friel, deputy chair of the Jawoyn Association, said the deal was essentially for local Aboriginal people to get "first crack" at jobs on the site."That was part of the negotiations," he said.Robert Friel says jobs for local Aboriginal people were part of negotiations. (ABC Katherine: Roxanne Fitzgerald)"It's important for our people to get employed in some shape or form."Mr Friel has a long history of working Mt Todd, including as a security guard in the 1990s."You can work your way up through into other positions, and get further training, as people have done in the past," he said.Mr Murdoch said while there was "no set number" for Aboriginal jobs at the mine, there was "certainly a principle that as a mining company we will give the Jawoyn people preference in decisions we make, employment opportunities and business opportunities".Some Aboriginal stakeholders at a recent open day at the site expressed their ongoing anxiety about economic opportunities for their people."We've been behind the eight-ball for a very long time and that has to stop," said Conway Wirrpanda-Blanasi, a local Aboriginal businessman and prominent cultural leader from Arnhem Land.Conway Wirrpanda-Blanasi says his community is concerned they will not be given an opportunity to work for the mine. (ABC News: Tom Maddocks)Mr Murdoch said the project will be big enough to include everybody."We will have employment for anybody who wants to come and work here. I can give you that guarantee," he said.Joshua Hunter, a traditional owner who lives near the mine and carries responsibility for sacred sites in the area, said local Aboriginal people wanted the mine to succeed, as long as it was done the right way.Despite the concerns raised by traditional owners, Vista Gold is planning to engage a largely FIFO workforce from the outset. (ABC News: James Elton)"We do want to prosper and want Vista to succeed in this operation, but we also want our customary laws and our sacred sites preserved and well protected," Mr Hunter said.Last year, Vista pleaded guilty to damaging a sacred site while carrying out drilling.Vista says environment risks will lessen once mine reopensThere have been several releases of polluted water from the mine while it has been in a care and maintenance phase.Most recently, in March, during this year's heavy wet season, the mine reported an unplanned but controlled release of polluted water into Horseshoe Creek to the environment regulator.Mr Murdoch said water was going out into a saturated area diluted by floodwater, which meant there was no harm to the environment.He said the mine's problems with water contamination stem from exposed waste rock that was never rehabilitated when the mine shut down, but that Vista would seal up the rocks and encase them in non-reactive materials.During the time the mine has been dormant there have been several releases of polluted water. (ABC News: James Elton)Vista Gold said it hopes to make its final investment decision early next year, with the first gold bars likely to be poured in 2030.