As demand for critical minerals increases worldwide, production is increasing at a copper mine in North West Queensland.
At a speech at Austral Resources’ Anthill mine near Mount Isa, Resources Minister Scott Stewart said that the recently opened mine is expected to produce over 10,000 tonnes of copper cathode per year while supporting more than 140 regional jobs.
Minister Stewart stated that Mount Isa is the pulsing heart of the North West Minerals Province, and copper has reigned supreme in the area since its discovery nearly a century ago.
“It is important to see continued investment in copper mining and exploration as this is one of the critical minerals needed for advanced and renewable technologies the world needs to decarbonise,” Minister Stewart added.
According to the Minister, Queensland produces around 25 per cent of the copper mined in Australia in terms of volume, and thanks to the Mount Isa smelter, Queensland is one of the two states able to handle copper concentrate.
Austral Resources Chief Operating Officer Shane O’Connell said the Anthill mine and other mines in the area would likely continue to grow.
“We have a strong pipeline of projects, and we want to continue to grow our portfolio of copper assets in the north west. This includes a targeted exploration program across our tenure, which will help create more jobs, opportunities, and economic benefits for our existing partnerships and the local region as a whole as well as extend Austral’s life of the mine,” O’Connell stated.
Investment in the search for critical minerals such as copper is increasing in Queensland.
According to the most recent Australian Bureau of Statistics quarterly exploration expenditure data, mineral exploration expenditure totalled $364 million in the fiscal year ending September 2022, a 44 per cent increase yearly.
Copper was the big performer, with exploration spending increasing 65.6 per cent year on year to $165 million.
Minister Stewart stated that the numbers demonstrated that investors and explorers supported Queensland’s essential resources sector, adding that the state also had the highest mineral exploration spending growth in Australia.
“The statistics back up what we’re hearing from the industry: confidence is high, demand continues for Queensland’s energy and mineral resources,” Minister Stewart said.
Minister Stewart added that Queensland has world-class endowments of critical minerals such as copper, and Queensland’s resources industry 30-year plan includes a set of measures to find, mine, process, and manufacture these materials.
“Together, the Palaszczuk Government’s Queensland Resources Industry Development Plan and the Queensland Energy and Jobs Plan will help create good jobs in regional communities,” the Minister said.
