CuDECO’s logistics manager John Green said it took up to 15 years for investors to receive capital return from Queensland resource projects. 

He said this compared with only two years in Western Australia, Canada, South America and Mongolia.

Mr Green believes Queensland’s bureaucracy is discouraging potential overseas investors and hindering the number of Greenfields hard-rock projects.  

He said there could be preferential treatment towards larger mining companies such as MMG and Glencore over smaller companies.

Mr Green said West Australian projects were better supported than Queensland, because every new potential project receives a government liaison officer.

“West Australian governments from either side of the political fence realise that is what pays their bills so they support it. They also have a proper Royalties to Regions program, which means their infrastructure is world class,” Mr Green said. 

The outspoken logistics manager is a stakeholder in CuDECO, and speaks from “bitter experience”. 

In 2006, the company discovered high concentrates of gold, copper and cobalt at its Rocklands site, 15 kilometres from Cloncurry. 

CuDECO aims to export its ore to China when it begins its production phase later this year. 

Hindrances in the years between exploration and production at CuDECO include the government’s lack of support for infrastructure in the North West, and the lengthy Environmental Impact Study, which cost CuDECO six years and $5.5 million to complete. 

A proposed multiload train facility to be built eight kilometres east of Cloncurry to improve its supply chain is also awaiting approval from Minister for Mines, Andrew Cripps. 

Mr Cripps appears to have changed his support for the project after MMG and former Mount Isa Mines owner Xstrata pulled out of the project, Mr Green said. 

“I find it ironic how important the site was to the minister when MMG and then Xstrata were involved as joint-venture partners, that the minister himself pressured us into doing the joint venture with those companies,’’ Mr Green said.

“But how unimportant it is now that those companies aren’t involved.” 

Mr Green believes the multiload will eventually be approved because of its necessity. 

“We may have to wait for a new government or a new minister, but we won’t give up.

‘‘The facility is too important to us, too important for Cloncurry and too important for the North West.”

Mr Green said the length of time it took for capital return made potential stakeholders choose other projects. 

“You go to a board, in let’s say Germany, Sweden, America and China for funding, because you think you have found the next Mount Isa Mines, and they will ask ‘what sort of return’,” Mr Green said. 

“But the next critical question is this: ‘when will we get our first return’?”