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New mine approval is ore-some; billions more in resources sector pipeline

Published by
Global Mining Review,


The Palaszczuk Government deserves credit for declaring the AUS$1.4 billion Sconi project near Greenvale in North Queensland a prescribed project and the Queensland Resources Council (QRC) has urged it to continue to work to unlock a more than AUS$70 billion pipeline of resource sector projects.

QRC Chief Executive Ian Macfarlane said the Sconi project aims to produce nickel, cobalt and scandium for use in battery manufacturing, electric vehicles and similar high technology applications for export markets, and the “prescribed project” declaration was another milestone in its development.

“The Queensland resources industry is at the forefront of the State’s future in terms of advanced manufacturing and the development of technologies, such as batteries for electricity storage or for the expansion of renewable energy or for the addition of more electric vehicles on our roads,” Macfarlane said.

The Government has confirmed that 2 million tpy of ore would be processed at the Greenvale site producing an estimated annual average production of 8500 t of cobalt, 53 500 t of nickel sulfate and 77 t of scandium oxide for at least 18 years.

“The approval announced by Premier Annastacia Palaszczuk and State Development Minister Cameron Dick today follows the important work in exploration and proving up the resource led by our member Metallica Metals,” Macfarlane said.

“The QRC and the Queensland Exploration Council applauds the Government’s commitment, through Natural Resources, Mines and Energy Minister Anthony Lynham, to promoting exploration for coal, minerals, petroleum and gas across our State. By proving up these resources, the industry can attract more investment, create more jobs, deliver more exports and generate more royalty taxes for the Government and all Queenslanders.”

Macfarlane said Deloitte Access Economics last year estimated a AUS$77.5 billion resource project pipeline, with AUS$3.4 billion under construction, AUS$2.6 billion committed, AUS$52.5 billion under consideration and another AUS$19.4 billion possible.

“The challenge and onus for the Government is to ensure we have stable policy – from assessment and approval of projects to the underpinning policy for the operation and rehabilitation of projects to rates of royalty taxes paid back to the Government – to ensure we secure as much of this project pipeline as possible,” he said.

Macfarlane said resource project approvals, like other major projects in renewable energy and tourism, have to go through a comprehensive environmental assessment process with the Queensland and Commonwealth Governments. This assessment process includes public consultation.

“All projects should be treated on their merits, but through the same process applied consistently. Each project deserves a ‘fair go’,” he said.

Read the article online at: https://www.globalminingreview.com/exploration-development/30012019/new-mine-approval-is-ore-some-billions-more-in-resources-sector-pipeline/

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Australian mining news Nickel mining news