Queensland has committed $15 million through the Queensland Investment Corporation’s Critical Minerals Fund to accelerate the redevelopment of the historic Mount Chalmers mine, marking a major step towards returning the long-idled copper project to production and strengthening the state’s critical minerals sector.
The investment will support QMines’ plans to advance the project, located 17 km north-east of Rockhampton, with the company targeting the development of more than 19 million tonnes of mineral resources containing copper, gold, zinc and silver.
The funding is expected to help fast-track development of the former mine, which has remained dormant for more than 40 years, while creating hundreds of regional jobs as operations ramp up.
The announcement also comes as the Queensland Government commits a further $100 million to expand the Critical Minerals Fund in the 2026–27 State Budget, signalling continued support for projects aimed at boosting the state’s role in supplying minerals critical to the global energy transition.
Queensland Minister for Finance, Trade, Employment and Training Ros Bates said the investment would unlock more than mineral resources.
“This investment is about bringing jobs and long-term opportunity back to the region,” Bates said.
“We are fast-tracking this project because it has enormous potential to create growth for Central Queensland and supply critical minerals that are in high demand globally.”
Queensland Minister for Natural Resources and Mines Dale Last said re-commercialising abandoned mines created opportunities for investment, production and regional employment.
“This is about unlocking new opportunities, restarting operations and giving promising resources projects the confidence to move from exploration to production,” Last said.
QMines chairman and managing director Andrew Sparke described the funding as a significant milestone for the project.
“Mount Chalmers has a proud history dating back some 160 years, and our development strategy is focused on positioning this project and this community for the future,” Sparke said.
“Our staged approach will allow us to bring the project online efficiently, while building a long-term operation that supports ongoing employment and regional growth.
“Copper is essential to the global energy transition, and projects like Mount Chalmers will help ensure Queensland remains a reliable supplier of these important resources.”
Read more: Queensland commits record $3.2 billion to CopperString
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