Best years ahead for resource rich North-West province
The impending closure of the Mt Isa smelter does not spell the end of the North-West Minerals Province’s wealth creation potential by a long shot.
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The impending closure of the Mt Isa smelter does not spell the end of the North-West Minerals Province’s wealth creation potential by a long shot.
That was the message from last week’s Meeting of the Mines conference in Cloncurry where local mayor Greg Campbell emphasised a collaborative approach to bolster regional resilience. “This will ensure that North West Queensland remains a vital player in Australia’s mining landscape,” Campbell told the gathering. “The best way Cloncurry can support Mount Isa is to be as strong as possible. Our efforts are focused on ensuring that our region remains robust and capable of driving forward essential projects that benefit all of North West Queensland.” Mining giant Glencore announced last year it would close its 60-year-old Mount Isa underground copper mines within two years with the loss of up to 1200 jobs in the outback resources city.
The company has committed to keeping the smelter open until 2030, pending approval of additional capital investment. The North-West Mineral Province is estimated to have $680bn worth of “new economy” resources such as copper, cobalt, gold and graphite crucial for the manufacture of batteries and clean energy projects. Other key topics of discussion at the second annual Meeting of the Mines included the repurposing of mine waste, including waste rock and tyres, rail and logistic pricing and energy security. There also was a debate that environmental legislation had not kept pace with industry advancement with greater collaboration and understanding identified as critical for future success. Renewable energy projects, such as Dugald River’s initiatives in partnership with Powerlink, were highlighted as essential for the region’s shift toward sustainable energy solutions.
Historical sale
CBRE has been appointed to sell a premier retail property in Burleigh Heads – a small slice of history that has been in the local Bartlett family for over 60 years. Number 3 Connor St has been owned by Ted Bartlett and his family for over 60 years, originally operating as a pharmacy. After identifying its best use as a food and beverage outlet in 2014, CBRE Gold Coast managing director Mark Witheriff says the property exemplifies the evolution of Burleigh from a coastal village to a thriving retail and lifestyle hub.
The site is hitting the market just weeks after the neighbouring 1 Connor Street set a new benchmark for property sales in the area. Burleigh Heads has emerged as one of the most sought-after residential suburbs in south-east Queensland, witnessing the development of upmarket residential towers and accommodation offerings, including the prestigious $450 million 5-star ‘Mondrian’ hotel. It is expected the forthcoming Gold Coast light rail extension will significantly boost visitation to the area by over 25,000 people.
Health check
More tech jobs are being created up on the Sunshine Coast with Cura Day Hospitals Group partnering with local technology services firm Entag to implement a state-of-the-art security network upgrade. The $2m partnership is expected to create significant local employment opportunities, with Entag estimating up to 100 individuals being involved and further growth anticipated over the next three years. The deal follows the recent $500 million-plus acquisition of Brisbane-based Cura Day Hospitals Group by global asset management firm Intermediate Capital Group to support the group’s strong national growth strategy.
Entag chief executive Kris Carver says that given the rapid expansion of both healthcare and technology sectors in Queensland, the collaboration is poised to generate significant employment opportunities.
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Originally published as Best years ahead for resource rich North-West province
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