Glencore considers future of Mount Isa copper assets
Glencore is reviewing the future of its Mount Isa copper smelter and Townsville refinery in Queensland.
A Glencore spokesperson said that the viability of the
copper processing assets were being challenged by significant global
competition and high fixed costs in Australia.
The company processes and smelts ore from Mount Isa on site
before transporting it via rail to the copper refinery in Townsville.
It also transports copper ore from Ernest Henry to Mount Isa
for smelting into copper anode.
Glencore is capable of producing 300,000 tonnes of 99.995
per cent pure copper cathode a year at the Townsville refinery, and 99.7 per
cent pure copper plates at the Mount Isa smelter.
The spokesperson stated that the bricks lining the smelter
were due for replacement in 2022, urging a decision to be made soon.
“We have been transparent about the challenges and discussions
are ongoing with both the Queensland and federal governments,” he said.
“We expect to communicate a final decision on the
metallurgical assets in the next four weeks.”
The assets are Glencore’s only copper smelter and refinery
in Queensland.
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