Oct 24, 2019

Chinese $US23b investment in Queensland mining

Chinese $US23b investment in Queensland mining

Queensland has become the backbone of China-Australia trade and economic co-operation.

This was part of the address by Chinese Consul General Dr Xu Jie at the recent opening ceremony of the Lynne Decline at the Minjar Gold owned Pajingo Mine south of Charters Towers.

Minjar Gold is a Chinese company focused on gold exploration and production in both Western Australia and Queensland.

Chinese Consul General Dr Xu Jie (centre).

By the end of 2018, China’s accumulated investment in Queensland had reached more than $US23billion, with its investment in mining and energy industries accounting for 93.5 per cent, Dr Jie said.

This had, ‘contributed significantly to Queensland’s economic and social development, in particular, its local employment,’ he said.

“Over the years, China-Queensland relations have maintained a good momentum, and our trade and economic cooperation has been deepened continuously.”

“The co-operation between China and Queensland has been an important force for the development of China-Australia relations.

“(The) Pajingo project is a well-known gold mine in Australia with a splendid production history. 

“Minjar Gold has not only dedicated to environmental protection and community services but also promoted local employment during its exploration and production process which plays an exemplary role for Chinese companies in Queensland.”