The Queensland Resources Council (QRC) congratulates Glencore after announcing the gradual restart of operations at the Lady Loretta zinc mine in the state’s North West region.
QRC Chief Executive Ian Macfarlane said Glencore’s decision would see 250 jobs created and is yet another sign of the company’s commitment to employ locally.
“Glencore has a strong focus on local employment opportunities for its operations and a long history of training apprentices, especially in Mount Isa,” Mr Macfarlane said.
“Over the last two years, the zinc price has increased by 107 per cent, which more than doubles the royalty revenue for the Queensland Government on every tonne of zinc sold. Certainty about royalty rates mean investors can make decisions that support jobs and the sector is seeking a firm commitment to a royalties freeze.
“The state’s North West has the potential to unearth vast amounts of copper, zinc and gold which are the minerals used in new technologies including batteries, mobile phones and solar panels. It was pleasing to see Minister Lynham announce his North West Minerals Province blueprint earlier this year with targeted incentives to encourage investment in the region.
“Zinc is a key ingredient in alkaline batteries and with Christmas upon us it’s a timely reminder not to forget to buy batteries if your Christmas presents need them.
“What we are seeing right across commodities is a jobs story especially in regional economies. We’ve seen 550 jobs added to the market this week with Glencore Copper and Lady Loretta and Rio Tinto announcing an extra 100 at its Weipa operations.”
The resources sector supports the full-time jobs of almost 300,000 people and is the state’s largest export industry which last year generated more than 70 per cent of total export value.