Up ands downs in resources

THE volatility of the resources sector is highlighted in today’s edition.

Today the reveals the exciting news that there is potential for multi million- dollar nickel refinery to be built in Townsville.

However, we also carry a story about Glencore’s decision to cut 430 workers from its Hail Creek coal mine, situated about 120km southwest of Mackay in the Bowen Basin.

A “restructure” of its operations will see the significant reduction in its workforce of 1360 to 930.

The news comes as a shock given the generally positive outlook for mining jobs in the region.

Hopefully those workers who lose their jobs are able to find new employment with other mining projects.

Meanwhile, yesterday’s announcement of plans for a new nickel refinery in Townsville are an exciting development for the North. The proposal is for a nickel sulphate and cobalt sulphate refinery to be built at Bluewater, coincidentally just 2km from the site of Clive Palmer’s closed Yabulu nickel refinery.

Construction of the plant, which could employ up to 800 workers, could start in 2020 if the project is found to viable.

Early indications are the proponents of the project should receive strong local support for the proposal.

Although the project is still a few years down the track, at best, when combined with the possible of a battery factory being built at Woodstock and Mr Palmer reopening the Yabulu refinery the jobs outlook for Townsville is, all of a sudden, looking extremely positive.

All levels of government should be doing all they can to make those behind the new refinery feel welcome in the North.

Townsville is the preferred site for the project so it is important the city grasps the opportunity and works to help get it over the line.

On the surface, it looks to be a project worth fighting for.