Xstrata Zinc Welcomed to Brisbane

March 13, 2008

Deputy Premier and Minister for Planning and Infrastructure Paul Lucas today applauded Xstrata Zinc’s decision to establish its Australian corporate head office in Brisbane.

“I welcome Xstrata Zinc to Brisbane and I thank them for their vote of confidence in Queensland,” said Mr Lucas.

“This is the first time Xstrata Zinc has established a corporate office in Australia, clearly they believe Queensland is the place to do business.

“In the last three years, Australia has been the real accelerator behind the growth of Xstrata Zinc.

“I’ve previously met with the Global Chief Executive Officer of Xstrata Zinc, Mr Santiago Zaldumbide and he is very committed to growing their business in Australia.”

Xstrata has indicated the Brisbane office will be established by the end of this month.

Senior staff including Chief Operating Officer Brian Hearne and others will make Brisbane their base in coming months.

“The value of mines and energy production in Queensland cannot be underestimated,” said Mr Lucas.

“In 2007, the annual value of Qld's minerals & energy production surged through the $25 billion mark.

“Last year the resources sector represented more than 15% Queensland economy and it is responsible for the employment of 1 in every 8 Queenslanders.

“Exploration, mining, minerals processing, energy and electricity production companies in Queensland directly employ around 45,000 people.”

Media contact: Robert Hoge 0419 757 868  or Matthew Klar 0437 435 223