QRC welcomes Glencore’s $500m investment into regional Queensland

THE Queensland Resources Council has welcomed a $500 million investment by Glencore which will see its Mount Isa copper smelter and Townsville refinery extend operations beyond 2022.

QRC chief executive Ian Macfarlane said 570 direct jobs would be secured at a time when Queensland’s unemployment rate is forecast to rise to 9 percent due to the impacts of COVID-19 and welcomed an additional financial incentive from the Palaszczuk Government.

“This is a significant investment from Glencore and will be a huge boost to the regional economies in the north and north-west of Queensland with a further 1000 indirect jobs supported,” Mr Macfarlane said.

“An additional financial incentive has been provided by the Palaszczuk Government to assist with the continued operations following constructive discussions between both parties.

“Smelters and refineries generate downstream jobs in the mining equipment and technology services (METS) sector which supply and service the resources industry.

“I visited Townsville yesterday to promote the importance of the resources sector to Queensland’s economic recovery and the feedback I received was the sector’s massive contribution to jobs and regional economies," Mr Macfarlane said.

“The resources industry will continue to play a critical role in keeping Queenslanders working and earning through COVID-19 and will be central to the State’s future economic prosperity post-COVID-19.

“During the COVID-19 response and its recovery, the resources sector has kept as many of the 372,000 Queenslanders who work in or because of our industry working and earning.”

www.qrc.org.au

ends