Ben Fordham tears into Anthony Albanese over major shutdown that could leave Australia at China's mercy

Daily Mail​

2 days ago

Prime Minister Anthony Albanese is under pressure to intervene after the closure of Australia's largest underground copper mine sparked fears the nation may be forced to rely on China for supplies.
Swiss mining giant Glencore reportedly conducted its final blast on Monday, ending more than six decades of domestic production at one of the country's most historic copper mines in the outback town of Mt Isa, Queensland.
2GB host Ben Fordham unleashed on Albanese, warning that with Mount Isa's copper smelter and Townsville refinery also at risk, and that Australia's shrinking processing capacity could threaten national security and leave the sector exposed to global competition.
'Copper is as critical as it gets and this mine has just shut down after 60 years of operation,' he said.
'What happened to the PM's Future Made in Australia?
'Copper powers the so-called green, clean energy future. It runs through solar panels, electric vehicles, wind farms, power lines and batteries.
'Copper is also critical to data centres and defence systems.
'So why are we walking away? Well, smelting copper uses a huge amount of gas. Gas prices in Australia are among the highest in the world.'
That's despite Australia being one of the largest exporters of liquefied natural gas in the world, as the net zero by 2050 target discourages gas exploration for domestic use.
'Glencore, the company that owns the mine, says it's no longer viable and it's going to get worse because Glencore is looking to shut the Mt Isa smelter, it's Australia's largest producer of sulphuric acid – a crucial chemical used in fertiliser manufacturing, so farmers will be forced to import fertiliser from overseas.
'And Glencore is looking at shutting Mt Isa's copper refinery, it's the country's only major copper processing facility, so we will be forced to buy copper from China.'
Glencore confirmed it was preparing to place both the smelter and refinery into care and maintenance until they become financially viable.
Mount Isa mayor Peta MacRae has been urgently lobbying state and federal politicians for a multi-million dollar bailout to save the facilities – and the 17,000 jobs that rely on them.
'This region has been good - no, great - to Queensland for generations,' she said.
'Mt Isa has quietly powered the State and national economy.'
Cr MacRae said a Queensland Resources Council economic report found the Mount Isa resources sector had contributed almost $15 billion in economic value over the past decade.
'Queensland has funded hospitals, stadiums, and public services from the wealth of this region,' she said.
'Now it's time for Queensland and Australia to return the favour. This is our moment of need.'
Cr MacRae stressed the issue was not a lack of demand for copper but a global oversupply of smelting capacity, which she blamed on 'global market manipulation.'
'Glencore is not a charity,' she said.
'They're competing in a distorted global market manipulated by foreign countries intent on cornering the copper supply chain.
'The smelter and refinery are no longer viable without urgent government action – and yet they are critical to Australia's sovereign capability and decarbonisation ambitions.'
The closure is being framed as a national issue, with copper considered essential to Australia's clean energy future.
'If Australia walks away from refining and processing it here, we are handing over control to others who do not share our values or strategic interests,' she said.
In an internal statement to employees last week, later leaked to the media, Glencore interim chief operating officer Troy Wilson said support measures proposed by the Queensland government fell 'well short' of closing the economic gap for the copper smelter and refinery.
'We need to know in the coming weeks whether there is a viable solution on the table from governments or whether we start to planning to transition the copper smelter and refinery into care and maintenance,' he said.
'Time is running out.'
Glencore has warned the two copper assets could lose billions of dollars over the next seven years, blaming rising costs and an increasingly uncompetitive business environment.
On the first sitting day of Parliament last week, veteran MP Bob Katter met with the new Minister for Industry and Innovation, Senator Tim Ayres, to push for a rescue package for Mount Isa without giving taxpayer money directly to Glencore.
'Let me be quite clear, we don't bail out foreign billionaires,' he said.
'If Glencore won't make the smelter work, the government should step in.