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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (31350)	1/18/2009 7:05:19 PM
From: LoneClone	Read Replies (1) \| Respond to of 195842

Queensland approves giant nickel refinery afr.com Australia's largest nickel refinery has been approved by the Queensland government. The Gladstone Pacific Nickel project would create 2,600 new jobs and add $500 million a year to the state economy, subject to federal government approval. Acting Premier Paul Lucas welcomed the approval, but stressed it came with strict conditions and was subject to decisions by the company and its bankers. "In tough economic times, this is great news, not just for the people of Gladstone, but all of Queensland," Mr Lucas said. "This project has the capacity to create 2,000 construction jobs in Gladstone, with another 1,750 if it is expanded to a second stage later on." Once built, the refinery would create 530 permanent operational jobs. The project also includes a mine at Marlborough, 180km north-west of Gladstone, that would generate 600 construction jobs and 150 new ongoing jobs. Mr Lucas said the first stage of the project alone would cost $3.8 billion. "Once operating, it will inject $513 million into Queensland's economy each year, with around $159 million of this going into the local economy here in Gladstone," he said. "And if the multi-billion dollar stage-two expansion proceeds, the expanded operations would bring $1.36 billion to the Queensland economy each year." Gladstone Pacific Nickel chief executive officer John Downie said the refinery could eventually produce one tenth of the world's nickel supplies. "It will treat ores from the south-west Pacific, starting with New Caledonia, plus ore from our Marlborough deposits and promote development of more local ore deposits," Mr Downie said. The company would spend $9 million on projects for Gladstone, including medical services, child care, support for the elderly or disabled, industrial training, rental support schemes and affordable housing. It would also contribute up to $10 million to assist other industries in the city which have high levels of sulphur dioxide pollution to reduce their emissions. Deputy Opposition Leader Mark McArdle said the state needed the boost, but with construction expected to start in early 2010 and operation to start in late 2012, the benefits were some time away. "It looks as if it's going to be a good winner for Queensland, Mr McArdle said. "Queensland certainly needs this sort of income coming in, it is however, well over 12 months away."