Queensland is gaining ground on Western Australia as a destination for resources development capital, according to emerging copper and gold developer QMines.

The ASX-listed company is advancing its flagship Mount Chalmers copper-gold project near Rockhampton, along with regional assets at Develin Creek and Mt Mackenzie in Central Queensland.

QMines executive chairman Andrew Sparke said Queensland’s lower asset prices, infrastructure and government support were helping the state compete more strongly for development capital.

Main image: Groundwater monitoring bore being drilled at Mount Chalmers.

The company is backed by a $15 million funding package from the QIC Critical Minerals and Battery Technology Fund, managed by Queensland Investment Corporation.

Related: QMines powers ahead with definitive feasibility study

Mr Sparke said recent State Government moves had helped the company progress its Central Queensland development strategy.

“I think the new liberal government is doing a terrific job to really shorten those timeframes. We’re certainly seeing at QMines really active engagement and all sorts of assistance to try and help us move the project forward and get it to production.

“The state government has a moratorium on rents and rates costs for companies with critical metals. Just this morning there’s been new legislation put to State Parliament really looking at fast tracking those development timelines and the approvals process.

“The Department of State and Regional Development have done a terrific job helping us facilitate our environmental approvals process. All I can talk about is my experience and it’s been extremely positive.”

Mr Sparke, who has also been involved in resources projects in Western Australia, said Queensland had a clear cost and infrastructure advantage.

“The benefit we’re finding in Queensland is that asset prices are a lot cheaper when compared to WA. And let’s not forget, Queensland is close to the largest consumer of commodities.

“It’s obviously very close to China, which is the largest consumer commodities globally by country. And you’ve got an absolute abundance of infrastructure. There’re seven ports up and down the coast. There’re major arterial roads.

“You’ve got base load coal fired power plants. We’ve got everything we need here in Queensland to build mines a lot quicker and a lot cheaper. So we just love being in Queensland.”

QMines is working towards completion of a definitive feasibility study for Mount Chalmers by the end of the year.

The company told the ASX this week that environmental approvals, mining studies, geotechnical works, metallurgical test work, process engineering and stakeholder engagement activities were progressing in parallel.

It said the QIC funding package meant QMines remained fully funded through completion of the DFS.

The company has described Mount Chalmers as the cornerstone of a proposed Central Queensland processing hub, with Develin Creek and Mt Mackenzie supporting a broader regional development strategy.

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