THE Queensland Resources Council (QRC) has welcomed the proposed merger of local Metallica Minerals and Canadian company Melior Resources as further proof of growing confidence in the State’s resources industry.
Under the proposal, Melior will become a wholly owned subsidiary of Metallica, which will remain listed on the Australian Securities Exchange (ASX).
QRC chief executive Ian Macfarlane said he welcomed the recognition, in the merger announcement, on a pipeline of longer term development and exploration assets, all located in Queensland.
These assets include: Goondicum Ilmenite and Phosphate rock mine; Cape York Heavy Mineral Sands and Bauxite Project JV; Cape Flattery Silica Sands Project; and the Esmeralda Graphite Project.
“At a time when the resources sector is creating a new job every hour and a $1 billion in exports every week, the proposed Metallica-Melior is further good news for a sector doing great things in Queensland,” Mr Macfarlane said.
Simon Slesarewich, who will retain the managing director’s role, is a QRC board member.