Townsville mayor Jenny Hill says foreign investors watching region’s “ethically sourced” minerals

Copper, zinc and nickel being officially recognised as strategic minerals is a sign of the looming “American dollar”, says Townsville mayor Jenny Hill.

Workers at Glencore’s underground copper operations at Mount Isa Mines. Picture: Supplied.

Copper, zinc and nickel being officially recognised by the Federal Government as strategic minerals is a sign that the “American dollar” and European countries want to capitalise on the North West Minerals Province, according to Townsville mayor Jenny Hill.

It will mean that mining proposals significant to the region and previously overlooked by governments will be given more attention.

Mayor Hill said an increased distrust of China was prompting international investors to look for ethically sourced minerals, which North Queensland could provide.

The world is interested in these strategic minerals such as copper as it increasingly uses them to transition to renewable energies, but unlike the critical minerals, they already have well-established and sourced production and supply chains nationally.

Last month the Federal Government’s critical minerals list was updated to include 30 minerals such as fluorine and molybdenum to recognise the rare earths market dominated by China, while it also created a list of six strategic minerals — aluminium, copper, nickel, phosphorus, zinc, and tin.

Head of investment, Quinbrook, Brian Restall and Townsville Mayor Jenny Hill, at the announcement of Quinbrook's multi billion dollar investment into Lansdown. Cr Hill listed Quinbrook as one of several valuable investments to the region. Picture: Shae Beplate.

Having these minerals on the list will not necessary attract private investment in itself, but it could be taken as a sign that companies across the world want to invest in the region, especially with the construction of CopperString.

Cr Hill said significant trade delegations had recently increased exposure of the minerals province, including a tour by European delegates and State Resources Minister Scott Stewart’s trade mission to the United States late last year.

She said there were signs of billions of dollars of projects looming on the horizon for Townsville that would capitalise on modern technology.

Developing the North West Minerals Province opens up more export opportunities from the Townsville port. Photo: Cameron Laird

“A lot of these nations, particularly the European nations are going to seek ethically produced materials, and some of the nations, particularly out of the communist nations don’t have the capacity to prove how they source their materials,” she said.

”So they’re looking for new countries or new places where they can source many of these minerals.”

“About eight weeks ago, all the trade officials all came to Townsville as part of their tour, and they’ve gone back to the Middle East, to Europe, so these trade officials are very aware of what the opportunities are in North Queensland.”

Mount Isa Mayor Danielle Slade said these minerals’ inclusion to the strategic list showed that State and Federal Governments had listened to the “resource mayors” who had wanted these resources recognised.

True North Copper plans to mine at the former Great Australian copper mine, which has significant historical interest to Cloncurry.

For Mount Isa the inclusion of copper was significant, considering that last October corporate giant Glencore announced that its copper operations in the mining city would be phased out in two years.

This would impact about 1100 jobs, most of which would be locally based.

Some 17 per cent of Mount Isa’s workforce worked in copper ore mining in 2021, according to the Australian Bureau of Statistics, two-thirds of which would be directly affected by Glencore’s closures.

Treasurer Cameron Dick visited Mount Isa as soon as Glencore made its announcement to close its copper operations in two years, to meet with stakeholders and to offer a support package worth up to $50 million.

Cr Slade said the remainder were attached to the mine’s copper smelter, which is expected to remain open until 2030.

“Every country in the world would kill to have a North West Minerals Province in their backyard,” Cr Slade said.

“As much as the copper mine in Mount Isa is closing down, I guarantee you in 10 years time they’ll be opening that up to a super pit, it has still got copper there.

Cloncurry Mayor Greg Campbell said that copper should be considered critical to the Federal Government as it was important for the emerging renewable transition.

“The good thing about CopperString is it will make it easy for the junior miners to get going, and what junior miners do is it will get going and then they will eventually sell to the big mines that come in.”

Cloncurry mayor Greg Campbell said that much of the $740bn of untapped minerals said to be in the region were in the southern part of his shire.

He said copper should have been considered critical instead of in a separate list.

“A huge volume of copper is needed to do any one of these renewable or decarbonised projects, so why isn’t copper recognised as being critical, because it actually is,” Cr Campbell said.

“We’re being overshadowed by projects that aren’t even close to being in operations, and those minerals are needed to be added to the list to give the support to the minerals.”

Originally published as Townsville mayor Jenny Hill says foreign investors watching region’s “ethically sourced” minerals