Capricorn Copper Mine on track for full recovery

• The Capricorn Copper Recovery and Extension Project has been declared a prescribed project and a critical infrastructure project.
• The Queensland Government will assist Capricorn Copper mine return to full operations and ensure the long-term security of the copper mine.
• Located approximately 120 km north of Mount Isa in North West Queensland, when fully operational, the mine creates up to 400 full time jobs.

On the recommendation of the Coordinator-General, the Deputy-Premier has declared the Capricorn Copper Recovery and Extension Project both a prescribed project and a critical infrastructure project.

These declarations will provide certainty around timeframes and allow the State Government to offer help and ensure there are no unreasonable delays to the delivery of the project.

This project will not only bring the mine brought back to full operations, but also investigate the possibility for producing more critical minerals, such as cobalt.

The global demand for critical minerals is rapidly increasing given their key role in the development of renewable energy technology.

Queensland’s North-West Minerals Province is one of the world’s richest mineral-producing regions.

Quotes attributable to Deputy Premier Steven Miles:

“We want Queensland to be at the forefront for renewable energy on all fronts, from mining resources and critical minerals to manufacturing the technology, as well as using, and distributing energy stored.

“Encouraging private sector investment and supporting the development of critical mining projects, like Capricorn Copper, will ensure our regional communities can capitalise on the renewable energy opportunity too.

“This project will be vital in boosting the local economy in Mount Isa, generating up to 400 jobs when fully operational.

“The Queensland government knows clean energy can create more jobs and unlock new economic opportunities for our state.

“We will continue to invest in projects that will help drive a global green energy transition, and position Queensland as a global leader in this space.”

Quotes attributable to 29Metals Limited Managing Director & CEO Peter Albert:

“We are very happy for the Capricorn Copper Recovery and Extension Project to be declared a prescribed project.

“Operations at the mine have been significantly affected by rainfall and flooding across the region earlier this year.

“These declarations will help us restore the mine to full operations and enable us to implement significant improvements to secure its long-term sustainable future.”

ENDS