What is old will be new again at Mount Morgan in Central Queensland where the North Australia Infrastructure Fund (NAIF) is putting $66million to mine gold tailings and rehabilitate the site.

The loan has been made to Heritage Minerals which describes itself as a technology company specialising in processing gold tailings at abandoned mines.

Operations at Mount Morgan closed in 1990 and the abandoned mine has since been managed by the Queensland Government which is also providing financial support to the project through the ‘Invested in Queensland’ program.

The proposed tailings processing plant at Mount Morgan will treat two million tonnes of tailings a year and new water treatment plant to be built as part of the project would improve water quality in the Dee River. 

Welcomed at the local level

The mine was on track to produce up to 7.5 tonnes of gold and 5,600 tonnes of copper said Rockhampton Mayor Cr Tony Williams.

Cr 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,” he 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.”

The project was forecast to create 250 new direct construction jobs and up to 150 operational jobs, with further indirect jobs promised alongside economic and social benefits for the wider Rockhampton region totalling an estimated $849 million said Minister for Resources and Northern Australia Madeleine King.

Heritage Minerals has a plan to start construction later this year and hopes to have the mine operational in 2024.