King backs historic Mount Lyell restart
Federal Resources Minister Madeleine King has backed the potential reopening of Tasmania’s Mount Lyell copper mine which has been under care and maintenance since 2014.Mount Lyell, situated near Queenstown on Tasmania’s west coast, began production in 1894 as a copper mine with gold by-products. It is frequently cited as Australia’s oldest continuous mining field with more than $4b worth of metal estimated to be mined from the area.Following two deaths in December 2013, and a third fatality a month later, production was stopped and previous owner Copper Mines of Tasmania (CMT) placed the mine into care and maintenance in 2014.Sibanye-Stillwater acquired the mine in 2021 and recently advised Minister King that the company has completed its feasibility study into best options for re-establishment, with a board decision expected later this year.“The thing about this mine and what is very clear from speaking to Sibanye-Stillwater, is there is a lot in its favour on the reopening: the underground is now in very good shape, a lot of work has been carried out; very, very positive copper and gold prices, a great market, and it's an excellent deposit.” Minister King said in an interview to ABC Hobart Radio.CMT, a wholly owned subsidiary of Sibanye-Stillwater, holds the mining lease for the site including the established infrastructure and underground development.With both gold and copper, reaching record price highs in February 2026, and increased need for copper in establishing Australia’s clean energy future, Minister King has indicated the Federal Government is supportive and willing to assist in restart efforts.“I'll make sure I follow up my department on how we can assist if we need to assist” she said.“They've got plans for the site, but they do have to make sure they get that board approval.“And I'll be getting my department and myself and my office to put our shoulder to the wheel to make sure we can do whatever we can to make sure that happens.”
