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Ford decision big boost for local magnesium project.



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M90/2001 12 April 2001

FORD DECISION BIG BOOST FOR LOCAL MAGNESIUM PROJECT

A $2 billion deal between Ford and the Australian Magnesium Corporation (AMC) is another major step forward to making the $1.3 million light metals project at Stanwell a reality, Queensland Senator and Federal Minister for Regional Services, Territories and Local Government, Ian Macdonald said in Rockhampton today.

Senator Macdonald said this project demonstrated that regional communities can compete on a global scale and attract important private sector investment.

“The Federal Government was pleased to provide $50 million in research assistance for this project which will provide around 1400 jobs during construction and 350 long term jobs,” Senator Macdonald said.

“But, it was always going to be a commercial consideration that determined whether the project had the legs to last the distance, and today’s news of a huge contract with Ford is a big boost of confidence in the project.”

“I am very pleased, as someone with a very close interest in the development of Central Queensland, to have been able to play my small part in assisting this project and will watch future progress unfold with great enthusiasm.”

Senator Macdonald said that this project would also make a significant contribution to the world effort to reduce green house gas emissions by replacing very dirty and old technology magnesium plants elsewhere in the world.

“The new technology here in Australia will replace inefficient producers overseas to the help reduce total gas emissions from magnesium production overall,” Senator Macdonald said

“This Central Queensland project demonstrates that Australia - and in this case regional Australia - can not only compete on the world stage, but can set the example on global issues like the environment; creating vital local jobs in the bargain.”

*** Senator Macdonald is available for interview at the Berserker *** Work for the Dole Graduation, Berserker Soccer Club, Foster Street  from 1200 - 1pm today (Thursday)

 Media Contact: David Moore (07) 4771 3066 / 0417 774 724

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© Commonwealth of Australia 2000 Last updated:  Wednesday, 18 April 2001