Cloncurry welcomes new mine project

Cloncurry welcomes new mine project


NEW MINE: One of the first development plans for the Cloncurry project, Little Eva. Source: Australian Shares.com

NEW MINE: One of the first development plans for the Cloncurry project, Little Eva. Source: Australian Shares.com

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A new mining development north of Cloncurry could see an added boost to the region with Altona copper-gold project coming to fruition.

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A new mining development north of Cloncurry could see an added boost to the region with Altona copper-gold project coming to fruition.

Treasurer and Minister for Trade and Investment, Curtis Pitt, said if the plans came to fruition the project would generate 300 construction jobs and 280 direct ongoing production jobs. 

“This is a project that would inject new job opportunities and new economic activity into the north-west at a time unemployment rates in the region are well above the state average,” Mr Pitt said. 

Altona Mining Limited today announced that all Chinese Government approvals had been received for the involvement of the the Sichuan Railway Investment Group (SRIG) in a joint venture to develop the project 95 kilometres north-east of Mount Isa. 

Foreign Investment Review Board approval was still to be received. 

Cloncurry Shire Council mayor, Greg Campbell, welcomed Altona project moving to the next stage.

Cloncurry Shire Council mayor, Greg Campbell.

Cloncurry Shire Council mayor, Greg Campbell.

“As it gets closer to fruition we welcome the economic activity that it will bring the the Cloncurry region,” Mr Campbell said.

“We look forward to working with Altona and JV to see staff living locally to add a boost to our community,” 

“This will just cement Cloncurry’s base as the central area for mining in the north west region.”

The planned mine would be owned by a JV company with Alton holding 34 per cent and SRIG 66 per cent. The joint venturers plan a 7 million-tonne-a-year open pit copper-gold mine and concentrator with an initial mine life of 13 years. 

Mr Pitt said it was positive news for the Queensland resources sector as a whole and the communities of north-west in particular. 

“The Altona project offers good jobs as well as spin-offs for local businesses,” he said. 

Mr Pitt said the project had native title agreements and mining leases in place. 

“It shows the ongoing strength of the resources sector and the important role it plays in our diverse state economy,” he said. 

“It also underlines the strength of investor confidence in Queensland.” 

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