The Lady Loretta Mine is a former underground zinc operation located about 140–150 km north-west of Mount Isa in north-west Queensland. The deposit is part of the same geological belt that hosts major base-metal mines such as Mount Isa and George Fisher.

The mineralisation was first discovered in 1968 through geochemical soil surveys, with subsequent drilling confirming a significant stratiform lead-zinc-silver deposit hosted in carbonaceous shales and siltstones typical of Mount Isa-type ore systems.

Construction of the modern underground mine began in 2011, and production commenced in 2012–2013 after development of underground declines and surface infrastructure.

The mine was operated by Glencore, but was recently acquired by North-West Queensland copper producer Austral Resources Australia.

Acquisition of the mothballed zinc mine boosts Austral’s tenure position surrounding its Lady Annie mine, delivering a near-term ore source in the form of a planned pit wall cutback planned to begin this quarter as well as longer-term opportunities.