$20m fund set to kickstart new jobs in Mount Isa

• $20 million available to organisations ready to help Mount Isa move ahead during and after mine closures
• Part of the Miles Government’s $50 million support package for Mount Isa
• Fund will focus on projects that can start up quickly to create jobs and enhance Mount Isa’s attractiveness as a place to live and work

Businesses, community organisations and other eligible applicants can now submit EOIs for their share of up to $20 million for shovel-ready projects that will create jobs, keep skilled workers in Mount Isa and boost the region’s liveability.

The Miles Government has acted swiftly to address the loss of up to 1,200 jobs after Glencore announced the closures of its underground copper mine and copper concentrator and the nearby Lady Loretta zinc mine. 

The Miles Government is committed ensuring Mount Isa will transition to thrive in new ways and Glencore’s other assets in the region remain operational.

Expressions of interest (EOI) open today for the Mount Isa Transition Fund which will boost projects that can start quickly, create jobs, and build on Mount Isa’s reputation as a great place to live and work.

It is one part of the government’s $50 million support package in response to the closures scheduled for 2025 and is being delivered by the Department of State Development and Infrastructure.

The transition is being strongly informed by those who know Mount Isa and the north-west the best. About 50 community, industry and government representatives met in Mount Isa last month to share ideas on how the fund could be tailored to meet local needs.

The package also includes up to $30 million to accelerate resources projects in the Northwest Minerals Province, led by Queensland Treasury and Department of Resources.

EOIs for the Mount Isa Transition Fund are open until 8 March, with the fund then opening for detailed applications.

For more information on the fund and how to apply, visit www.statedevelopment.qld.gov.au/mount-isa-transition-fund

Quotes attributable to Minister for State Development and Infrastructure Grace Grace:

“When Glencore announced the upcoming closure of these two Mount Isa mines, our government stepped up to support affected workers and look to the future for the region.

“Our focus is on supporting affected workers and the wider community by creating new opportunities for good, secure jobs, improving liveability and keeping skilled workers in the region.

“We are delivering on that commitment, with today marking a key step towards rolling out the $20 million economic stimulus package that will grow the local economy and build resilience.

“My department has been on the ground listening to the community and working closely with a range of stakeholders, including with Mount Isa City Council and Glencore, to ensure Mount Isa’s future economic prosperity and the community’s livelihood.

“We’d also love to see Glencore do the right thing by the Mount Isa community and match this $20 million fund.

“Mount Isa has much to be optimistic about. It is at the heart of one of the richest minerals provinces in the world, with new critical industry minerals worth a potential $500 billion.

“Working with industry and community, we are identifying projects that can get off the ground quickly to generate jobs and together ensure a strong future for this region.”

Attributable to Resources and Critical Minerals Minister Scott Stewart:

“We said we would back the people of Mount Isa when Glencore announced the closure of its Mount Isa Copper Operations and Lady Loretta Zinc Mine and we are doing just that.

“The Miles Government will continue to engage and work directly with the community as they deal with this challenge.

“There is huge potential in the North West Minerals Province for new projects and more jobs and we are backing this through our $5 billion CopperString 2032 project.”

More information:

• Since 2015, the Queensland Government has planned for the transition and diversification of the region’s economy.
• This includes significant investment through the $245 million Critical Minerals Strategy, the $20 million North West Minerals Province Economic Diversification Strategy, the $200 million Regional Economic Futures Fund, and the Queensland Energy and Jobs Plan.
• Under this plan, CopperString 2032 will unlock the nation’s largest renewable energy zone, maximising local manufacturing and supply chains and generating thousands of jobs in critical minerals mining, manufacturing and clean energy construction.

Media contact (Minister Grace): Kim Sweetman - 0457 600 237

Media contact (Minister Stewart): Chris Lees – 0434 859 940