Copper Stocks in Queensland

Which companies produce copper in Queensland?

Queensland is home to Glencore (LSE:GLEN,OTC Pink:GLCNF), the second-largest copper producer in Australia. Glencore owns and operates the Enterprise and X41 mines within its Mount Isa mining complex in the northwest region of the state.

Aside from Mount Isa, Glencore owns the nearby Ernest Henry copper mine. Glencore isn't listed on the ASX but can be found on the LSE.

Which companies are exploring for copper in Queensland?

Aside from previously mentioned Glencore operations, Red River Resources (ASX:RVR,OTC Pink:RRRDF) owns the Thalanga operation near Charters Towers. Red River acquired Thalanga in 2014 and has been working to develop the historical site back into a viable investment.

Red River is developing Liontown, which is Thalanga’s third mining project. Liontown is an open-pit mine with a projected lifespan of over 10 years and a mineral resource estimate of 4.1 million tonnes of copper at 0.6. In its 2022 Annual Report, Thalanga reported an output of 12,051 tonnes of copper concentrate.

The remaining investment options for Queensland copper stocks are exploration-focused. Copper Mountain Mining (ASX:C6C,OTC Pink:CPPMF), for example, has interests in the Eva copper project, which is — unsurprisingly — in the northwest of the state, near the town of Cloncurry. On October 7, 2022, Copper Mountain Mining announced its decision to sell its Eva copper project to Harmony Gold Mining Company for up to US$230 million. Eva is still in the development phase, with a feasibility study completed in early 2020 projecting a 15 year mine life with an expected output of 31,200 tonnes of copper per day.

There is also Global Energy Metals (TSXV:GEMC,OTCQB:GBLEF), which, like Glencore, isn't on the ASX, but has its sights set on its Millennium cobalt-copper-gold project and others near Mount Isa — all in the exploration stage.

Aside from that, Strategic Energy Resources (ASX:SER) acquired exploration licenses from Newcrest Mining (ASX:NCM,OTC Pink:NCMGF) in May 2021 for licenses around Mount Isa. The now fully owned Isa Undercover initiative consists of two projects near Mount Isa: the Isa North, and the Canobie Projects. Zenith Minerals (ASX:ZNC) is exploring the fully owned Develin Creek copper-zinc project. The project has a mineral resource estimate of 2.57 million tonnes of 1.76 percent copper and 2.01 percent zinc. Zenith divested another copper project, Flanagans, in June 2021 by selling its interests to a private company for AU$450,000.

Copper has a variety of uses across the industrial and technology sectors, and many mining companies continue to capitalise on the value of this resource.

For more on Australia's copper landscape, click the links below:

• Copper in Australia
• Copper Mines in Australia