Business
21 January, 2025
All that glitters not gold
STAKEHOLDERS have no appetite to pursue a gold refinery at Cairns Airport despite the economic benefits.
Cairns Local News last week revealed a secret report 14 years ago outlined the establishment of the refinery at the airport. It was later knocked back by Queensland Treasury officials.
The scoping study – seen by CLN – was funded by the Department of Employment, Economic Development and Innovation (DEEDI) and Cairns Regional Council in 2011 and looked at ways gold flown to Cairns from Papua New Guinea could be processed at an airport-based refinery. The report was never made public.
A Department of State Development, Infrastructure and Planning spokeswoman said “further exploration into the gold refinery project by the Queensland Government is unlikely at this stage due to uncertainties surrounding the Cairns Airport, including current investment and development”.
Cairns Airport chief executive officer Richard Barker said no parties had approached the airport regarding the refinery project.
“The Cairns Airport team works closely with a range of stakeholders and we are always prepared to consider new proposals, however we seek to explore projects that align closely with our company purpose: sustainably growing our aviation-related business to support the growth of our community,” he said.
“A number of major works are currently underway at Cairns Airport, including the $60 million eastern aviation precinct, which will provide new, resilient infrastructure for local operators, and the SkyHaven short-term accommodation facility, addressing the critical shortage affecting many sectors and employers.”
A council spokeswoman said, while the council contributed to the original scoping study in 2011, the concept of a gold refinery at the airport would primarily fall under the purview of state departments, such as the Department of Employment, Economic Development and Innovation (or its current equivalent), alongside relevant stakeholders like Cairns Airport and industry representatives.
“(The) council’s role in such initiatives is typically limited to providing support where appropriate, rather than leading or updating studies of this nature,” she said.
“Any further exploration of this idea would require coordination and commitment from those directly involved in gold production and refining, as well as government and private sector stakeholders.”
The proposal, not only looked at a refinery at the airport, but associated value-added ventures such as coin manufacturing, gold trading and storage, jewellery sales and tourism.
At the time of the report, capital estimates for the refinery were $10.7 million with an additional allowance of $2m of seed capital for tourism and retail activities. In the first year $22m would be added to the region’s economy.
