A MINERALS operator could create 100 jobs in a £70m expansion.

Peak Resources has revealed plans to build a refinery at Wilton, near Redcar.

Bosses say the site could start production in 2019 and deliver goods for use in mobile phones, wind turbines and car parts.

North-East regeneration bosses last night praised Australia- based Peak’s vision, saying it was further proof of Teesside’s manufacturing muscle on the international stage.

Peak said it chose Wilton ahead of 25 countries, citing the area’s highly-skilled workforce and port access as key factors in its decision, adding that Darlington-based engineer Amec Foster Wheeler had supported its search.

The Northern Echo understands Peak officials see the refinery as a potential complement to a project in Tanzania, which aims to derive what it describes as magnet metals.

The company is putting together a feasibility study on the Tanzanian scheme, known as Ngualla, and says Teesport, based close to Wilton, is ideally placed to oversee mineral shipments.

Darren Townsend, Peak’s managing director, also said the company remains unfazed by the Brexit vote, revealing sterling’s lower value could work to its benefit.

He also highlighted Sirius Minerals’ Whitby potash mine, which will use Teesside to ship fertiliser, as an example of fresh growth in the area.

He said: “We are developing Ngualla into a low-cost, next generation rare earth project strongly aligned to the expanding magnet metal market.

“To better position ourselves in this market, a decision has been made to establish a rare earth refinery.

“The Tees Valley is compelling and will be the base case on the feasibility study currently being completed.

“Wilton is the planned home of Sirius Minerals’ handling and port facility and located close to Teesport, where the rare earth mineral concentrate will be shipped.

“While the long-term impact of Brexit is not yet fully understood, the devaluation of the pound is expected to improve operating costs.

“The UK’s progressive stance on maintaining competitive corporate fiscal regimes post-Brexit is (also a) positive.”

Councillor Sue Jeffrey, leader of Redcar and Cleveland Borough Council and member of Tees Valley Combined Authority, said Peak’s plans were a shot in the arm for North-East industry.

She added: “It’s great our area has been recognised as a preferred location by a company from the other side of the world. It signals a very clear indication of our global reputation for successful manufacturing.”