Cape Alumina has defied the doom and gloom of global financial trends by successfully floating on the Australian Securities Exchange (ASX) and in turn creating up to 1000 jobs, CEO Paul Messenger told MINING DAILY.
“It’s been a very difficult time and we’ve managed to raise $15 million and attract 500 new shareholders,” he said.
“Cape Alumina’s new Pisolite Hills bauxite project in Cape York will be a very positive contributor to the Australian economy.
“It means several billion dollars worth of export revenue, hundreds of millions of dollars in State revenue and Federal taxes.”
“But more importantly, it’s a lot of jobs.”
According to the company, the creation of the Pisolite Hills project will create more than 500 construction jobs and approximately 350 permanent full time jobs.
“The job aspect of this project is definitely significant, and in the current times we think it’s very important that we continue the momentum towards that objective,” Messenger said.
Cape Alumina plans on working with Indigenous communities in Cape York to come to a mining agreement and help local people find employment, Messenger said.
“A lot of the jobs will be filled by local Indigenous people,” he said.
“They have very limited access to opportunities that most Australians take for granted in terms of employment, education and training and business development opportunities.”
According to Messenger, listing on the ASX and moving ahead with Pisolite Hills will not only create jobs but also place the company in a strong position for the future.
“Cape Alumina has the potential to become a major player in the resources sector, creating jobs where they are needed as well as creating massive trade with important overseas trading partners like China,” he said.
Messenger warns against being unprepared for the next turn in the mining cycle.
“We don’t want to be left flat footed and struggling to catch up to the other mineral producing countries around the world like many companies were following the commodities slump from 1997 to 2003,” he said.