After 60 years of copper mining in Queensland’s Gulf Country, Glencore’s Mount Isa mine is set to close in 2025. But what prompted this decision?
The second largest copper producer in Australia, the Mount Isa copper mine has been a feature of the Australian copper landscape since 1924.
Throughout its years of operation, it has employed thousands of people and supplied copper to all corners of the globe.
But all things must come to an end, and the Mount Isa copper mine is no different. The reason for its shuttering, according to Glencore, is low ore grades.
“Glencore has conducted a range of studies and reviews seeking to further extend the life of the underground copper mines, but unfortunately it has not been possible, and they have reached the end of mine life,” Glencore said in a statement.
“The studies revealed that the remaining mineral resources are not economically viable due to low ore grades and areas where, due to geological conditions, safe extraction can’t be achieved using current technology, this all coupled with ageing infrastructure.”
Mount Isa currently employs over 1200 people, and the Queensland Government has thrown employees a lifeline in the wake of the announcement.
“Our government will work together with Glencore to develop an economic support package to help workers and the community transition as these mines close in 2025,” Queensland Deputy Premier Steven Miles said.
Part of this package includes up to $30 million to accelerate development of more resources projects in the area and up to $20 million, matched by Glencore, for an economic structural adjustment package.
“I understand many workers and their families will find Glencore’s decision a difficult one to accept,” Premier Annastacia Palaszczuk said.
“But we will always do what we can to support workers and their families to find new good, secure jobs. North West Queensland is central to the delivery of critical minerals needed for global decarbonisation and skilled workers like those at Glencore are vital for this new industry that is set to generate thousands of jobs.”