QRC Welcomes Australian Government Support For Queensland Critical Minerals Investment

The Queensland Resources Council (QRC) has welcomed the Australian Government’s announcement of Major Project Status for the Multicom Resources Limited Saint Elmo Vanadium project near Julia Creek.

QRC Chief Executive Ian Macfarlane said the granting of this status was an important next step to creating new mining jobs in North Queensland.

“Queensland has a leading role to play in the development of the critical minerals industry,” Mr Macfarlane said.

“These new critical minerals projects will deliver new jobs in regional Queensland, and will play a strategic role for Australia in terms of defence industries, manufacturing, trade and regional development.

“Vanadium is just one of the critical minerals the Queensland resources industry can mine and process.

“Queensland has globally-significant reserves of copper, nickel, zinc, graphite, and molybdenum and major deposits of cobalt, rhenium, scandium, tantalum, niobium and lithium.

“Our resources industry is primed to deliver regional investment and jobs for decades to come. Investments in new critical minerals projects will add to the coal, gas, bauxite and zinc industries which already underpin the Queensland economy.

“In the last year, the resources sector contributed $74.3 billion to the state’s economy and supported more than 372,000 jobs.

“It’s important that Queensland has the right policies in place to attract the investment to translate our opportunities in critical minerals into a reality.

“Granting Major Project Status sends an important message to global investors, and QRC has also welcomed the Queensland Government’s $13.8 million five-year package to encourage new discoveries of critical minerals to attract more overseas investment.

“QRC is calling for continued bipartisan support for policies that support the resources sector and help create jobs.”