Austral Resources Australia acquires Rocklands Copper Mine near Cloncurry
Austral Resources Australia has executed a binding agreement to acquire Rocklands Copper Mine near Cloncurry, which has sat in care and maintenance since November.
While the acquisition could be a boost for the community, residents are cautious given a decade of failures involving the mine.
Rocklands' reputation has been sullied by a trail of unpaid invoices and job losses, which led to the closure of local businesses.
The community is concerned the mine has caused the town more pain than gain in its nine-year history.
Cloncurry Shire Mayor Greg Campbell said while any mining activity was positive for the community, past owners might have tainted any trust in Rocklands.
Austral non-executive director Dan Jauncey said the company's priority was to rebuild a relationship with residents.
"We're in this for the long haul," he said.
"We can't do this without the people, without the businesses supporting us as we want to support them."
Mr Jauncey said Austral would revisit Rocklands' previous failures and assess what could be done differently.
"[Rocklands] has been undercapitalised, under-resourced," he said.
"We're very focused on this consolidation piece and ensuring, before we hit go on anything, that we've got all our i's dotted and t's crossed."
Chinese-backed miner CuDeco first opened Rocklands in 2016.
It closed in 2018 and fell into receivership the following year, leaving $60 million in unpaid wages and debts.
Cr Campbell said the unpaid bills put pressure on residents, causing an exodus from the town.
After liquidation in 2020, Copper Resources Australia purchased the mine in 2021, promising a brighter future.
Within three years it was again in administration, joining two other copper projects shuttered in 2024.
The mothballing of the mine this time around affected more than 600 workers, again creating bitterness among Cloncurry residents.
Now, seven months on, Austral said it wanted this new deal settled by the end of August.
It has operated the Lady Annie copper mine north of Mount Isa for the past six years.
Once finalised, the company will also have to face the potential closure of Mount Isa's copper smelter — one of just two in the country — as Swiss owners Glencore seek government funds to keep it running.
The loss of the smelter could mean that copper production would move overseas.
Mr Jauncey said Austral was aware of the situation and prepared to work through it.
"All we can focus on is what we can control … but I know that we can be self-sufficient," he said.
Cr Campbell said to keep Cloncurry afloat, mining companies needed to do the right thing by the community.
"As a mining shire, we're happy to do our bit and promote the area," he said.
"But we do have a strong expectation on businesses, especially mining companies, to come and invest in our community and do it transparently … ultimately to pay the bills."
He said Austral had work to do to ensure Cloncurry was not held ransom by Rocklands a third time.
"If they want to come and operate in our shire, they're more than welcome," he said.
"But we've got a really strong desire to keep our people ultimately employed and then paid once they do their work."
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