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Glencore to Mothball North Queensland Smelter and Refinery over Funding Impasse

Glencore is demanding federal funding to avert the planned care and maintenance of its Mount Isa smelter and Townsville refinery.

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Overview

  • Glencore projects US$2.2 billion in losses at its North Queensland copper facilities without new government support and has begun mothballing preparations.
  • The Queensland government says it has made a genuine and responsible offer and is seeking federal participation to secure operations.
  • Queensland Treasurer David Janetzki warned that allowing the smelter’s closure without a deal would be a national disgrace.
  • The federal Coalition has called for a Senate inquiry into the metals manufacturing sector to examine risks to thousands of regional jobs.
  • Mount Isa Mayor Peta MacRae will meet Prime Minister Anthony Albanese next week to push for a binding solution for local workers.