The Gold Rush for Mount Morgan's economy is continuing with Heritage Minerals securing vital federal funding.
The Northern Australia Infrastructure Facility (NAIF) will provide a $66 million loan to the exciting project.
Not since 1990 has the Mount Morgan gold mine been operational but, now with this critical funding, the mine looks on track to produce up to 7.5 tonnes of gold and 5,600 tonnes of copper.
Mayor Tony Williams welcomed the Federal Government support and the commitments made late in 2022 from the State Government and said he is now eager to see work begin.
"Mount Morgan has a long history of supporting Queensland through jobs and economic prosperity, this funding will ensure that continues for years to come," Mayor Williams said.
"I thank Minister Madeleine King for her announcement today and cannot wait to see the rivers of gold that will flow from this community once again."
"Heritage Minerals are on track to start construction later this year, and we will be working closely with Advance Rockhampton and appropriate State and Federal Government authorities to assist local employment opportunities, tourism activities and other economic development initiatives," Mayor Williams said.
Divisional Councillor Cherie Rutherford said today's announcement will come with a great deal of excitement for residents.
"This site is an iconic piece of history to Queensland that many have attempted to revive and, now with this funding secured, Heritage Minerals is one step closer to breathing new life into Mount Morgan," Cr Rutherford said.
"With a plan to environmentally rehabilitate the mine while extracting the gold, it's a win-win for the entire community."
"We know that proponents have tried in the past to get this project up and running so to see this next step now come to fruition is a massive win for both the community and the mine itself."
"A sustainable water supply and now permanent jobs on the horizon, it won't be long until Mount Morgan will be reaping the rewards," Cr Rutherford said.
As the lead economic development agency in the region, Advance Rockhampton is proud to have been working with Heritage Minerals since 2020.
"In addition to the economic development opportunities this presents, our team will continue to assist this transformational project working closely with Heritage Minerals to coordinate labour planning, assist local content opportunities such as services and products, community consultation, infrastructure upgrades and troubleshooting options for waste management," Advance Rockhampton Executive Manager Greg Bowden said.
"Supporting up to 250 jobs during construction and then around 150 jobs on offer to run the commissioned mine, we'd like to see as many of those roles stay local and the creation of local procurement activities where possible."
"This looks to be the final piece of the puzzle for this exciting project, and I commend Heritage Minerals for their on-going commitment to the region."
Heritage Minerals has a plan to start construction later this year and hopes to have the mine operational in 2024.
