With Glencore set to downsize Mount Isa in 2025, what is the way forward for the North West Minerals Province?
Glencore’s recent announcement that its Mount Isa copper operations and Lady Loretta zinc mine would close in 2025 sent shockwaves through the Queensland mining industry.It signalled the end of two of Australia’s most iconic mining operations, which have supported the world with a sustainable supply of copper, lead, zinc and silver for up to 60 years.
In the wake of Glencore’s announcement, Queensland Premier Annastacia Palaszczuk announced a $50 million support package for the Mount Isa region and those affected by the impending closure.
This included up to $20 million, to be matched dollar-for-dollar by Glencore, for an economic structural adjustment package for Mount Isa and north-west Queensland. The Queensland Government will also provide $30 million to support exploration in the North West Minerals Province across the next five years.
It is encouraging that the Queensland Government responded so quickly to Glencore’s announcement, but the way it allocates its resources is critical to ensuring Mount Isa and the nearly 1200 workers set to be affected by the closure receive the appropriate support.
For the rest of this article: https://www.australianresourcesandinvestment.com.au/2023/11/10/solidifying-mount-isas-mining-future/