- Queensland Critical Minerals and Battery Technology Fund to fast-track plans to reopen copper mine
- Plans for a copper mine reopening in FNQ will accelerate Queensland's energy transformation
- More than 30 new regional Queensland jobs and apprenticeships for the resources industry may be created should the mine reopen
Queensland copper exploration company, Revolver Resources will accelerate plans to recommission a Far North Queensland copper mine thanks to support from the Queensland Labor Government.
The Queensland Critical Minerals and Battery Technology Fund will support the company with a $1.3 million contribution towards a series of technical studies, and engineering and environmental management designs.
Funding will fast-track the completion of the studies by up to six months, with a view to have the mine fully operational in the next 18 months, subject to approvals and finance.
Revolver seeks to re-establish the mine in line with the rising global demand for copper to supply electric vehicles (EVs), EV charging infrastructure, batteries, and renewable energy generation.
Prior to its closure in 1983, the mine, that is 260 kilometres north west of Cairns, was producing 63,758 tonnes of ore with an average copper grade of 22.7 per cent – the highest-grade copper in Australia's history.
As the world's most cost-effective conductive material, copper is essential to the world's energy revolution and in helping Queensland reach its bold net zero emissions target.
Subject to a positive financial investment decision, the mine is expected to support approximately 23 new full-time jobs and opportunities for 10 apprentices and trainees.
The mine will be a boost for Far North Queensland, stimulating the local economy through procurement activities, and additional trade with local suppliers.
Quotes attributable to the Deputy Premier, Treasurer and Minister for Trade and Investment Cameron Dick:
"As the Climate Energy Finance report released on Wednesday found, Queensland is positioned as a renewable energy and cleantech superpower.
"The State's vast copper reserves play an important part in this renewable energy and clean industries transformation.
"The Queensland Labor Government established the Queensland Critical Minerals and Battery Technology Fund to accelerate this transformation, and it is great to see the first grant being used to fast track the potential rejuvenation of the Dianne Copper Mine.
"The Dianne Copper Mine is a great example of the transformative resource projects we are seeing emerge in Queensland and around the world."
Quotes attributable to Minister for Resources and Critical Minerals Scott Stewart:
"Queensland is host to large and long-lived copper mining activities, with new deposits still being discovered, and developments successfully progressed.
"This supply, coupled with the global embrace of sustainability, is driving interest in our state and pushing the clean energy transition forward.
"The renewal of old mines is a key action identified in our Queensland Resources Industry Development Plan and it's great to see Revolver Resources take advantage of the opportunity a legacy operation like this is presenting."
Quotes attributable to Revolver Resources Managing Director Pat Williams:
"We are pleased and grateful to be the recipients of the very first grant made by Stream A of the Queensland Critical Minerals and Battery Technology Fund.
"The objectives of the fund and our plans at the Dianne Copper Mine Project align neatly.
"This grant enables us to accelerate the final engineering and design workstreams for the project as we drive towards targeted recommencement of mining activities at Dianne.
"I would like to say a heartfelt thank you to both the Queensland Government and the personnel administering the fund.
"I believe that the leadership and foresight shown in setting up and rapidly activating the fund should be widely recognised and commended by the minerals industry."
Explainer/fast fact and or further information:
- The project aligns with the Queensland Government's Critical Minerals Strategy which build on the Queensland Resources Industry Development Plan and the delivery of the Queensland Energy and Jobs Plan.
- Learn how the Queensland Critical Minerals and Battery Technology Fund is supporting business across the critical minerals supply chain.
