Capricorn Copper Project : Queensland govt grants ‘Prescribed Project’ status to 29Metals’ asset

In a significant move by the Queensland Government, 29Metals Limited’s Capricorn Copper project has been granted ‘Prescribed Project’ status. This declaration is a nod to the importance of supporting mining activities in the northwest Queensland region. The Capricorn Copper Recovery and Extension Project has received a significant boost, as this status will facilitate the ongoing recovery activities following the extreme weather event in March 2023.

Capricorn Copper Project: A Focus on Recovery and Extension

The Deputy Premier and Minister for State Development, Infrastructure, Local Government and Planning, Dr. Steven Miles, announced this crucial declaration under the State Development and Public Works Organisation Act 1971 (Qld). Effective immediately, this declaration will remain in place until 31 December 2026, covering two key areas:

• The execution of the recovery plan for Capricorn Copper, aiming to bring the site back to full operations post the March 2023 weather calamity.
• Initiatives to enhance productivity and extend the mine life, including evaluating the commercial potential of cobalt mineralization at Capricorn Copper.

29Metals’ Response to the Government’s Declaration

Peter Albert, the Managing Director & CEO of 29Metals, expressed his gratitude for the government’s support, highlighting the declaration as a strong signal of backing for the Capricorn Copper project and the broader northwest Queensland region. Albert emphasized the declaration’s role in improving coordination among regulatory agencies and ensuring timely decision-making for key approvals. He noted that this support aligns with 29Metals’ vision of realizing Capricorn Copper’s potential in an environmentally responsible manner. The company’s engagement with government and regulatory stakeholders since the March 2023 extreme weather event played a crucial role in this achievement.

This declaration by the Queensland Government is seen as a direct result of 29Metals’ proactive engagement with various stakeholders. It underscores the intersection of the company’s vision for Capricorn Copper with the strategic objectives of the State of Queensland, focusing on regional development, net zero targets, critical minerals, and the Copperstring 2.0 initiative. The three-year timeline for the Capricorn Copper Recovery and Extension Project now has an added layer of confidence, paving the way for a robust and sustainable future in mining for the region.