Glencore has declared its Mount Isa copper smelter unviable and is awaiting a response from Australia’s federal and Queensland’s governments regarding requests for financial assistance to keep the facility running.
The mining and commodities giant blamed “unprecedented smelting market conditions,” high energy, gas and labour costs, and a shortage of copper concentrates for the smelter’s unsustainable position. The Swiss company first announced the closure of its Mount Isa copper mines and associated operations in October 2023.
At the time, it said all assets that made up in the complex as well as the Lady Loretta zinc mine, located 140KM north-west of Mount Isa, would close in the second half of 2025. Glencore initially said the closures would impact more than 1,200 jobs, but in April this year, it revised that estimate to around 500 roles, citing progress in workforce planning.
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