Palmer River Copper Mine Set to Undergo Expedited Rejuvenation
Palmer River Copper Mine Set to Undergo Expedited Rejuvenation

Palmer River Copper Mine Set to Undergo Expedited Rejuvenation

  • 11-Mar-2024 4:22 PM
  • Journalist: Peter Schmidt

Revolver Resources, Australian company specializing in copper exploration, has accelerated its timeline for the revival of a copper project in Far North Queensland, driven by a $1.3 million injection of funds from the State Government. The mining company announced last week its plans to utilize the financial boost to expedite various technical studies, engineering designs, and environmental management plans, thereby advancing the project timeline by up to six months.

This funding has been secured from the Queensland Critical Minerals and Battery Technology Fund, a government initiative aimed at fostering innovation in the critical minerals and battery technology sectors. The Palmer River project, situated southwest of Cooktown, is expected to achieve full operational status within the next 18 months, contingent upon regulatory approvals and financial arrangements. Revolver Resources is committed to reviving the mine to meet the growing global demand for copper, particularly in fulfilling the needs of electric vehicles (EVs), EV charging infrastructure, batteries, and renewable energy generation.

The objectives of the Queensland Critical Minerals and Battery Technology Fund closely align with our vision for the Dianne Copper Mine Project. This grant empowers us to expedite the final phases of engineering and design tasks for the project, propelling us towards the targeted resumption of mining operations at Dianne. Prior to its closure in 1983, the mine boasted an impressive production record, yielding 63,758 tonnes of ore with an average copper grade of 22.7 per cent — a milestone unmatched in Australia's copper mining history.

Scott Stewart, the Minister for Resources and Critical Minerals, emphasized that the financial injection would further strengthen the state's longstanding engagement in copper production. Queensland has served as a hub for extensive and enduring copper mining activities, with new deposits continually being discovered and projects successfully undertaken. The revival of dormant mines is a key element of our Queensland Resources Industry Development Plan, and Revolver Resources' proactive approach in seizing the opportunity presented by a legacy operation such as this is commendable.

Revolver Resources anticipates that the revival of the mine will create approximately 23 new full-time job opportunities, in addition to offering prospects for 10 apprentices and trainees. This revitalization not only contributes to economic growth in the region but also underscores our commitment to sustainable development and job creation.

Revolver Resources Holdings Limited is an Australian company specializing in copper exploration. Company primary focus is on developing natural resources to support the increasing global demand for electrification.

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