Sconi declared “prescribed project”
AUSTRALIAN Mines’ flagship $1.4 billion Sconi cobalt-nickel-scandium project in North QLD is a step closer now it has been given prescribed project status by the State Government.
Prescribed project status would enable the company to fast-track Sconi to development, with a more streamlined regulatory approval process.
It would also allow the Coordinator-General to intervene – if necessary – to ensure timely decision making.
Australian Mines managing director Benjamin Bell said he was “delighted” that the State Government had formally recognised the regional economic potential of the project, which was set to produce 8500 tonnes of cobalt, 53,500t of nickel sulphate and 77t of scandium oxide per annum over an 18-year period.
During the construction phase alone, Sconi was set to create up to 500 jobs, and a further 300 full-time equivalent jobs during operations.
In a Bankable Feasibility Study released in November, Australian Mines said it was committed to allocating 90 per cent of the ongoing annual operational expenditure to local businesses.
“$922 million of the project’s total capital expenditure was anticipated to be spent with Australian businesses, with a preference for North Queensland companies,” Mr Bell said.
“We have also committed to significant upgrades to local infrastructure in the Greenvale region, including upgrading the water supply, regional public roads and the Greenvale regional airport as well as the construction of an accommodation village and the establishment of a 24/7 medical facility.”
Queensland Resources Council ( QRC) chief executive Ian Macfarlane applauded the Government’s decision to declare Sconi a prescribed project, but urged it to continue work to unlock the more than $70 billion pipeline of resources sector projects.
“The challenge and onus for the Government is to ensure we have stable policy – from assessment and approval of projects to the underpinning policy for the operation and rehabilitation of projects to rates of royalty taxes paid back to the Government – to ensure we secure as much of this project pipeline as possible,” Mr Macfarlane said.