Company boss details $11M spend on crucial CQ project
AFTER spending $11.1 million on the project over three years, Carbine Resources have reiterated their commitment to re-opening the historical Mount Morgan gold mine.
Carbine's Tony James spoke at the inaugural Bowen Basin Mining Club luncheon in Rockhampton, outlining the metallurgical advances that have made it both economical and environmentally friendly for the company to clean up more than 45 million tonnes of tailings at the historical site, while extracting valuable remaining minerals.
"Our project is about being smart and using all the waste products just sitting at Mount Morgan to make a truly efficient site, contributing to a bright future for Mount Morgan,” said Mr James.
"Carbine Resources have spent $11.1 million on this project since 2014, and we're looking forward to creating training programs and local apprenticeships and opportunities to kickstart the Mount Morgan community.”
The project will include a year for construction, with an $85 million spend.
It's set to create 120 jobs over a minimum 20 year lifespan, bringing $45 million of operating costs to the region.
CEO of Minerals Council of Australia Brendan Pearson also addressed the sold-out event about the risks to the resources industry including future electricity consumption, activists and unfair taxes on regional areas.
Mr Pearson said coal had the potential to help Australia meet climate change targets.
"Coal is still the cheapest source of power, and we can go a long way towards meeting our 2030 targets with coal by replacing ageing coal plants with high-efficiency, low-emisions (HELE) technology, as well as upgrading existing plants,” he said.
"On coal adjustments alone, we can meet 88% of Australia's 2030 emissions targets.”
Mr Pearson also spoke about threats to the industry in the new form of blockade activism, which did not recognise the contribution of mining to power production.
"What activists fail to realise is that there are 16 mined metals in a solar panel, or 220kg of coal in a wind turbine,” Mr Pearson said.
The sold-out event was hosted by Headricks Lane and is the first time the popular organisation has brought the concept to the city.
Rockhampton Region Mayor Margaret Strelow said it was not the last of the mining events planned for the city.
As part of the event, East St car parks were closed off to showcase some of Rockhampton's mining services capability, with a Coxon's Radiators nosecone and SMW Group heavy equipment on display.