Glencore - Queensland Govt's preferred developer for Aurukun bauxite mine

Glencore is the Government's preferred developer but the multinational's share price plunged 30 per cent over debt concerns earlier this week and despite a rebound, it is still down 70 per cent since the start of the year. Analysts predict the Swiss-based resources giant may shelve projects.
The Aurukun Bauxite Development (ABD) consortium, including some traditional owners, lost out to Glencore. ABD chairman Nick Stump said its bid was still financially sound. "We'd have to see a change in the attitude from the State Government here," he said.
Treasurer Curtis Pitt said the Government had no plans to change its preferred developer.
"It's very important not to jump too far ahead of ourselves here but what we know is that there's a very good resource at Aurukun and of course we would hope that Glencore would be able to continue going through that process," he said.
"We've not had any conversations to the contrary at this point, so I trust that it's going to be travelling well going forward but very clearly there is a lot of volatility in international markets, particularly as it relates to commodities."
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