If Queensland is serious about controlling our resources, mining leaseholders must know that if they’re not going to use it, they’ll lose it. It was positive to hear the minister finally agree with our position on this today, and I’ll be making sure this doesn’t become another meaningless slogan, the Leader of the KAP, and state Member for Traeger Robbie Katter said.
The Natural Resources and Mines Minister, responding to sustained questioning from Mr Katter told the Primary Industries and Resources Committee budget estimates hearing that he and the Resources Cabinet Committee are looking at “use it or lose it provisions … we don’t want to see land-banking taking place and these projects just sitting there for decades like currently is the case.”
“Have I got the number one example of land-banking and sitting on Queensland’s resources!” Mr Katter said.
“Glencore, despite having nearly four times the concentrate of copper as Eva Copper’s greenfield mine which they’re spending billions on developing, Glencore would rather spend their capital in other jurisdictions such as Africa and South America.
“If there’s ever a time that Queensland’s ministers need to pull up their big boy pants and put into action what they say, it’s now,” the Member for Traeger said.
Glencore have reported copper resources at Mount Isa of 151 million tonnes of copper ore, predominantly at the Black Star site, at 1.5% copper. Eva Copper, a greenfield development north of Cloncurry is spending billions on developing the mine and processing plant with only a 0.4% copper concentration.
“I’ve had companies bashing down my electorate office door, saying ‘if Glencore don’t want to mine it, let us have a crack!’ Mr Katter said.
“I’m no mines broker, but the calibre of people trying to get into that mine and development is exceptional. They know what they’re doing when it comes to mining and realising Queensland’s resources.
“Glencore are simply commodity traders who would rather lock up Queensland’s minerals and play the world copper market, which is only continuing to reach new highs,” the KAP leader said.
In May 2024, Mr Katter tabled the Mount Isa Mines Limited Agreement (Continuing Mining Activities) Amendment Bill to give the former government’s Mines Minister the power to strip Glencore of the Mount Isa lease were they not to continue mining. Labor allowed the bill to lapse, denying debate before the election.
“I’ve tried to give the Mines Minister the power to make the big calls and back Queensland over multi-nationals, and I’d be happy to do the same again if this government doesn’t put its money and action where its mouth is,” the KAP leader said.