Altona Mining’s Cloncurry copper-gold project north east of Mt Isa in Queensland is nearing development after more approvals were secured for the project’s funding.
According to Treasurer and Minister for Trade and Investment Curtis Pitt, the project will generate 300 construction jobs as well as 280 ongoing production jobs when plans for the mine pushes through.
“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 has announced that all approvals from the Chinese Government has been granted for the involvement of the Sichuan Railway Investment Group (SRIG) in a joint venture for the development of the Cloncurry project. The project is still currently awaiting for its Foreign Investment Review Board approval.
The Cloncurry copper-gold project is going to be owned by a joint venture between Altona and SRIG. The joint venture is planning to develop a seven million tonne per annum open pit copper-gold mine as well as a concentrator which have an expected mine life of 13 years.
Mr Pitt said that the project is positive news for the entire State’s resources sector, particularly for the communities in the north-west. The Minister also stated that the project has already acquired native title agreements and mining leases.
“The Altona project offers good jobs as well as spin-offs for local businesses.
“It shows the ongoing strength of the resources sector and the important role it plays in our diverse state economy,” Mr Pitt said.
Watch this space for updates on this project by subscribing to Felix Project News.
Source: Queensland Government and Australian Mining