QMines (ASX:QML) hosted senior representatives from the Queensland Government and Queensland Investment Corporation (QIC) at its flagship Mt Chalmers Copper and Gold Project in Central Queensland.
The delegation included the Minister for Finance, Trade, Employment and Training Ros Bates; Member for Keppel Nigel Hutton; QIC Investment Director Joshua Risson; QIC Analyst Thomas Sullivan; and QIC Analyst Georgia Whiting.
The government and QIC representatives visited Mt Chalmers to inspect the site and receive a comprehensive update on progress being made towards its redevelopment.
As reported by Mining.com.au in April, QMines received a $15 million investment from the QIC Critical Minerals and Battery Technology Fund (QCMBTF) to support development activities at Mt Chalmers.
The company entered binding agreements with QCMBTF trustee QBF No.1 for $5 million in cash, in consideration of the issuance of 95.6 million shares to QCMBTF at $0.052 each, and $10 million in cash, in consideration of granting a 2% net smelter return royalty.
Funding is being deployed to a Definitive Feasibility Study (DFS), a front-end engineering design study, and construction readiness ahead of a final investment decision for Mt Chalmers.
During the visit, QMines outlined its staged development strategy, while also providing an update on the ongoing DFS, environmental approvals program, and engineering activities.
Representatives toured the historical open pit and surrounding infrastructure.
The delegation discussed the project’s potential to deliver long-term employment for Central Queensland, regional investment, and increased production at the site, guiding the global energy transition.
QMines Managing Director Andrew Sparke says the company is delighted to “showcase the significant progress being made” at Mt Chalmers to Queensland Government and QIC representatives, as the company focuses on bringing one of Queensland’s historic copper and gold mines back into production.
“The visit provided an excellent opportunity to demonstrate the breadth of work currently underway across the Definitive Feasibility Study (DFS) and environmental approvals program, while highlighting the important role Mt Chalmers can play in supplying the copper needed for global electrification and supporting long-term regional employment,” Sparke says.
“We sincerely thank Minister Bates, the Queensland Investment Corporation, and the Queensland Government representatives for taking the time to visit the project and for their continued support of Queensland’s critical minerals sector.”
The QIC is owned by the Queensland Government.
QMines will be attending the Noosa Mining Investor Conference, held from 22–24 July, at Peppers Noosa Resort, Noosa Heads, Queensland.
Mining.com.au is an official media partner of this year’s conference.
Write to Maddison Elliott at Mining.com.au
Images: QMines
