Goldmine Insurance is planning to open a goldmine insurance business in Queensland, its chief executive says.
Goldmine Insurance chief executive Simon Gorman said the company was looking to expand into other industries, such as mining.
He said the business would be based in the Brisbane suburb of Sunshine Coast and would provide a diversified portfolio for gold and silver mining.
“The main focus of the Goldmine is to provide gold and/or silver mining insurance to other industries,” Mr Gorman told the ABC.
“We also want to be able to offer a diversification of risk.”
Goldmines in Queensland currently cover around 1.5 million gold and precious metals miners.
Mr Gorman’s announcement comes as Queenslanders were forced to endure an unprecedented heatwave in the early hours of Thursday.
The state recorded almost 50 hours of extreme heat, including hot winds of over 160 kilometres per hour (100 mph) and temperatures of more than 120 degrees Celsius (300 degrees Fahrenheit).
The heatwave was so extreme that Mr Gormans family had to evacuate their home.
Queensland Premier Annastacia Palaszczuk said the state was still recovering from the heatwave and the state’s heat-loss measures had been “out of control”.
“Queenslanders need to rest easy and let us know if they feel they need to change their habits, especially during this time of extreme weather,” she said.
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