Glencore to reopen Lady Loretta mine, creating 20 jobs
The reopening of the z...
The Switzerland-based miner, Glencore, has announced that it will be reopening its Lady Loretta mine near Mount Isa, Queensland.
The reopening of the zinc mine will create 250 jobs, spanning 46 roles, for which the firm has already begun hiring.
The jobs cover project and Geotech engineers, maintenance managers, shift supervisors, paramedics, ROM operators, diesel fitters, mechanics, boilermakers, shotcreters, service crews, and nippers.
The mine will also offer additional for the supply of goods and services within the local area, as well as community investment.
The contract for operation for the next five years – the remaining time of the mine’s life – has been awarded to Redpath Australia.
“We will continue to responsibly manage production of the high-quality Lady Loretta resource,” stated Stuart Reid, General Manager at Zinc Mining North Queensland.
“Ore mined at Lady Loretta will be processed at our Mount Isa facility and exported to customers all over the world via the Port of Townsville,” Mr Reid added.
“We encourage members of the Mount Isa community with the relevant skills, experience and qualifications to apply for the roles available through Redpath Australia.”
The announcement of the mine’s closure was made in October 2015.
Zimbabwe targets £8.8bn mining industry by 2023
Zimbabwe’s government plans to fast-track exploration, evaluation and digitalisation of selected reserved mining areas under the Ministry of Mines and Mining Development as part of wider measures to achieve a £8.8 billion mining industry by 2023, according to a senior government minister.
Information Minister Monica Mutsvangwa said other plans include stopping the issuance of special grants in the reserved areas under the Ministry of Mines and Mining Development until the exploration and evaluation is complete and a robust value addition program for diamonds is implemented.
Mutsvangwa was speaking at a post-cabinet media briefing on December 15.
She adds that the issuance and renewal of special grants for energy should also be based on the financial and technical capacity to value add all types of coal, as well as for ideal exploration of Coal Bed Methane.
For renewal of special grants, consideration should take into account the period the Special Grant has been held as well as plans with milestones for value addition of the special grant, Mutsvangwa says. She adds that the Zimbabwean government expects gold to drive the mining sector in order to achieve the ambitious target, with the precious metal expected to contribute approximately £2.96 billion to the overall target.
Mining is one of Zimbabwe’s major contributors to its economy, alongside agriculture, which is the mainstay. The mining sector accounted for more than 60 percent of the country’s foreign currency receipts in 2019, and contributed around 16 percent to national Gross Domestic Product, the Chamber of Mines says.
The country’s mining industry is focused on a diverse range of small to medium mining operations. The most important minerals produced in Zimbabwe include gold, asbestos, chromite, coal and base metals.
Zimbabwe expects its economy to expand by 7.4 percent in 2021 from a projected contraction of 4.5 percent this year, due to the effects of drought and the COVID-19 global pandemic.
When presenting the 2021 National Budget in November this year, Finance and Economic Development Minister, Professor Mthuli Ncube, said that the mining sector is projected to rebound by 11 percent next year after surviving a COVID-19 induced shock that saw the sector contract by 4.7 percent in 2020. In September, mining bans in national parks were introduced, according to news agencies.
He added that the National Budget would allocate £1 billion towards the operations of the ministry for planning, promotion and exploration, data capturing, and automation, among other key mining processes.
Other factors necessary for the achievement of the £8.8 billion target include a stable macroeconomic environment, policy consistency, and availability of long-term capital to fund mining projects along the entire mineral value chain, the minister said.
Stopping "illicit financial flows" from gold smuggling is another key issue to address, according to media reports.