By: ABC news

Harmony Gold, South Africa's largest gold producer, has officially approved the development of the Eva Copper Project in outback Queensland. The open-pit mine, located 75 kilometers northeast of Cloncurry, is forecast to inject over $17 billion into the state's economy over its operational life.

The final investment decision commits A$2.4 billion to the project, with construction set to begin in late 2026. Production is targeted to start in the second half of 2028, and the mine is expected to have a 15-year lifespan, producing approximately 60,000 tonnes of copper annually.

The project is a significant boost for the region, promising to create about 1,000 jobs during its construction phase and sustain 450 full-time roles during its operation. Queensland's Treasurer cited the decision as a major show of confidence in the state's critical minerals sector and a win for the wider economy.

However, the local Cloncurry Shire Council has expressed concerns about the tangible benefits for the community. Mayor Greg Campbell stated that while local employment opportunities are expected, he has "no confidence" the company will make necessary investments in local housing to attract permanent residents rather than fly-in, fly-out workers.

The council has proactively introduced a major investment policy, proposing that mining projects over $50 million invest 1% of their total capital value into local housing. Mayor Campbell emphasized the need for senior staff to live in the community to ensure the town sees long-term benefits beyond the mine's life.

A key factor in securing the final investment decision was the resolution of energy supply. Harmony Gold's chief development officer had previously stated that the project's timeline depended on the certainty of a long-term power supply from the multi-billion-dollar CopperString project in North Queensland.

The Eva Copper Project was acquired from a Canadian company in 2022 and has also received state government funding aimed at boosting the region's industry. This development is particularly significant following the recent closure of the historic Mount Isa Copper Mine.

While the project promises substantial economic returns for the state, its ultimate local impact will be determined by the collaboration between the mining company, the state government, and the Cloncurry community to ensure that regional prosperity is shared and sustainable.