News

Townsville to bear brunt of Glencore cuts

Glencore cuts

Cuts across Glencore’s zinc operations in north-west Queensland are likely to affect Townsville and other service centres more than Mount Isa, according to a North Queensland economist. Empower Economics principal economist David Lynch said the global mining giant’s move was not a good sign as far as industry confidence went and highlighted Glencore’s “fairly precarious” Read More

Queensland Nickel seeks government assistance

Queensland Nickel

  The general manager of Clive Palmer’s Queensland Nickel (QN) Yabulu refinery says it is business as usual despite a plea for government help to keep the facility open. The ABC has quoted Queensland treasurer Curtis Pitt as confirming the State Government held discussions with QN about the impact of the slumping world nickel price. Read More

Port leads the charge in growth

port

The Port of Gladstone is enjoying a growth spurt. Photo: Murray Ware Trade through the Port of Gladstone is projected to grow to nearly 145 million tonnes handled within five years, representing growth of nearly 50 per cent atop 2014/15’s record throughput. Gladstone Ports Corporation said the throughput last financial year of more than 100 Read More

The reef, the economy and social growth

GBR_Oct15

The Resource Industry Network is taking on the big issues. The issue of the future of the Great Barrier Reef and the need for economic development and growth in the regions will be the key topic of discussion at the October 16 briefing. The common debate in the media, and among policy makers and advocacy Read More

The mystique of the weather explained

Drought

This photo of drought conditions was taken near Julia Creek in north western Queensland. What can we expect from the coming summer? The Bureau of Met will try and explain tomorrow (Tue 13 Oct 15) at the Museum of Tropical Queensland in Townsville. Senior meteorologist Doug Fraser is presenting an overview of the El Niño Read More

Industry tips a hat to its own

gladstone engineering alliance

The annual awards night showcases local excellence. Photo: Murray Ware Gladstone industry will take time out to acknowledge local business leadership and excellence with a gala event on October 15. The 12th annual Gladstone Engineering Alliance Gala Dinner and Industry Awards night is expected to attract a crowd of more than 250. Held in conjunction Read More

All lots cleared at Isaac auction

Isaac auction

Isaac Regional Council has cleared all lots at its first Fleet and Plant auction this week. NASCO Auctioneer Chris Goscomb said the 300 registered and another 200 online bidders competed fiercely. “It’s was a rare event with a one vendor local government auction achieving a 100 per cent clearance rate with all 236 units sold,” Mr Goscomb Read More

Tough world conditions visited on Mount Isa

Mount Isa

It’s a sad time for Mount Isa according to Mount Isa to Townsville Economic Zone (MITEZ) President, David Glasson. Glencore announced that it would temporarily suspend operations at Lady Loretta mine north of the city as part of a move to preserve assets in anticipation of a rise in the value of zinc. It represents Read More

Zinc deficit looms

Zinc

Glencore production cuts are certain to push the zinc market into deficit in 2016, according to Fat Prophets resources analyst David Lennox. The 500,000-tonne reduction recently announced represented about 4 per cent of annual global supply, based on 2014 figures, he said. “That’s a significant amount to come out of production and would, we believe, Read More

Mine closure temporary

Lady Loretta Neighbours Day, Nov 2014

Underground at Lady Loretta Glencore has reaffirmed that the decision to temporarily suspend operations at the Lady Loretta mine was strategic and not taken to reduce costs. Glencore announced this morning it will either redeploy or offer redundancies to more than 330 staff across its Australian zinc operations. Another 200 contractor positions will go. Operations Read More

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