Industry & Business

Mount Isa came to existence because of the discovery of a large mineral deposit over 85 years ago and even today; mining and supporting industries are the cornerstone of our strong economy. Other major components of the Mount Isa economy include mineral processing, tourism and agriculture.

Mount Isa is the largest City in North West Queensland and services a region comparable in size to Victoria, making us the mining, industrial and commercial capital of North West Queensland. Mount Isa is also the main services centre for health, public administration and community services

Our strong and diverse economy has been identified as one of the two most resilient economies in Australia, with recent figures released from Bank West showing a 10% growth in employment since November 2007. The Bank West report paid tribute to our region’s ability to assist Australia to continue to weather the Global Financial Crisis, pin-pointing our area as a major “growth corridor”.

Swiss mining giant Xstrata Pty Ltd operates the Mount Isa Mines adjacent to the City, which comprises of both underground, open cut and metallurgical processing facilities. Xstrata Zinc recently announced the approval of more than $11 million to complete two major feasibility studies into the expansion of their Black Star open cut and George Fisher operations, both located within the City.

Mount Isa is recognised as one of the top two largest copper mining and smelter operations in the country. Copper and lead are smelted on site, with copper anodes and zinc concentrate being transported some 900 kilometres to the Port of Townsville on the east coast. The Mount Isa region has 23% of the world’s known zinc resources. New mining companies continue to explore the region, with at least two new companies planning to begin operations in early 2010.

The overall population growth and economic advancement of this unique community is additionally supported by smaller mining companies, a diverse service network, transport operations and retail industries.

At the time of the 2006 Census, employment within the resource sector contributed to over 26% of the City's workforce.

Other notable industries with relatively large numbers of employed persons included Retail Trade (823 persons or 8.9%) and Health Care and Social Assistance (792 persons or 8.6%).

Additionally, Electricity, Gas, Water and Waste Services; and Education and Training employed more persons per capita than the Queensland average.

In 2006, Mount Isa’s median weekly individual income was $685 compared with $466 in Australia. The household median income was $1,534 compared with $1,027 in Australia and the median family income was $1,712 compared with $1,171 in Australia. Our unemployment rate of 3.9% was one of the lowest in the state, and continues to remain one of the lowest throughout the downturn.

The City’s high level of disposable income has paved the way for many entrepreneurs who have taken advantage of the City’s vast opportunities. Our success stories include small owner operator businesses growing to multi-million dollar franchises, with outlets across the nation. Mount Isa’s business network has significantly progressed over the past few years. Supported by an active Chamber of Commerce and development bodies, business operators continue to develop acumen and expand markets.

The City is home to many franchises such as:

• K-Mart
• Best and Less
• Donut King
• The Coffee Club
• Blockbuster
• Harvey Norman
• Gloria Jean’s Coffee
• Super Cheap Auto
• Game Traders
• Bunning’s
• McDonalds and
• Loot

Many smaller locally-owned businesses are located in the rejuvenated Central Business District. The recent injection of private and public investment has developed what was once labelled as “just a mining town” into a thriving Cosmopolitan City. The Mount Isa Chamber of Commerce reported growth within the small business community over the 2008-2009 financial year, despite the Global Financial Crisis.

During the last financial year more than 40 new businesses were registered for trade within the City, with one franchise owner reporting record sales in the first week of opening (sales figures reaching the top 5 for new stores Australia wide).