Canadian mining giant Teck has joined the growing band of explorers on the hunt for Queensland resources.
Teck Australia, a wholly-owned subsidiary of Canada’s largest diversified resource company, Teck Resources Ltd, has been given the green light to start exploring a 102 square kilometre site for minerals 8km southwest of Cloncurry.
Mines Minister Dr Anthony Lynham said Teck’s move was a sign of ongoing confidence in the state’s North West Mineral Province.
“Having one of the world’s biggest zinc and mineral players moving into the sunshine state to explore and develop the state’s north-west presents a fantastic opportunity for Queensland,” he said.
“Not only will this help to secure the next generation of resource development in the north-west region, it will firmly cement Queensland as a leader in the global minerals sector.”
Teck Australia is the first company in Queensland to be granted a permit to explore for minerals through a tender process. Traditionally, exploration permits are simply applied for.
“The next minerals boom will be new-age minerals used in advanced technologies from hybrid vehicle batteries to super-conducting magnets,” Dr Lynham said.
“The north-west has potential for copper/gold and lead/zinc, as well as the rare earth elements used in these advanced technologies.
“Emerging demand for these minerals is being driven by production targets for electric vehicles set by governments and car makers around the world and the need for progressive technology.
“These rare metal presents industry and employment opportunities for Queenslanders in the very near future.”
Queensland’s North West Mineral Province is a world class base metals region and Australia’s largest producer of copper, lead, zinc and silver.