Latest news with #PetaMacRae
News.com.au
31-07-2025
- Business
- News.com.au
Australian region facing 17,000 job losses as copper pressures hit
Up to 17,000 jobs could be lost if copper operations that have underpinned life in regional Queensland come to an end, as local leaders call for government intervention. Glencore is closing its 60-year-old copper mine at Mount Isa, about 900km inland from Townsville, with its official last day on Thursday. But that might not be the end of upheaval for the region. The multinational resources giant is also considering the future of its copper smelter and its refinery, located in Mount Isa and Townsville respectively, with models predicting a $2.2 billion loss by 2031. Mount Isa Mayor Peta MacRae told that some confidence had remained in the community since the underground mine's closure was announced, as many jobs could be moved to Glencore's nearby zinc mine. But, she said, losing the smelter would have massive impacts not only for Mount Isa but the region and its interconnected industries. 'I mean, that was a pretty big blow (the mine closure), but we were going to be able to manage it,' Ms Macrae said. 'I think the closure of the smelter would be absolutely devastating. They're talking 18 per cent unemployment in Townsville. 'So I just don't think I can overstate the problem, to be honest.' The mayor is in Canberra this week to lobby federal government ministers in the hope of securing a plan to keep the sites open. Glencore is losing tens of millions of dollars per month on its copper operations due to economic pressures and growing global competition. China has seen a government-subsidised copper smelting boom over the past decade and now accounts for half of the world's refinery capacity. Smelters also run on gas, with Australia's high prices adding financial stresses. Not only does it provide local jobs, but the Mount Isa smelter's by-products also fuel another large employer in Dyno Nobel's Phosphate Hill fertiliser plant. With the copper mine's closure, the smelter is now fed by smaller third-party mines which would also face significant pressures if it closed down. Gavin Starr, who runs Custom Steel Fab, said hundreds of small business and supporting industries would be affected if the plants close. 'You'd be hard pressed to find someone in Mt Isa who isn't directly affected,' he said. 'We feel fear, frustration and disbelief.' Glencore has confirmed it was currently reviewing a 'detailed offer … of support for the copper smelter and refinery' from the Queensland government. A spokesperson said the company was 'grateful for this offer of assistance' but noted a 'quite significant' economic gap remained. 'Bridging it will require support from both Queensland and federal government,' they said. 'At present we don't have anything on the table from the Federal Government but we look forward to engaging further with Minister (Tim) Ayres in the coming weeks.' A spokesperson for Industry and Science Minister Mr Ayres told the Australian Financial Review that framing any talks as a 'bailout' was not correct. 'They are a serious, necessary assessment of Australia's capacity to process strategic and critical minerals now and into the future,' they said. 'We will continue to work closely with industry and state governments to advance our domestic industrial capability, in line with our Future Made in Australia agenda.' Ms MacRae has said the Mount Isa resources sector had contributed $15 billion to the economy over the past decade and the region had 'asked for very little' in return. She told that the dilemma facing the area was 'right in the sweet spot' of federal government plans on Australian industry, critical minerals and developing northern Australia. 'So we might not want to call it a bailout,' Ms MacRae said. 'But what is essentially needed is economic support for a whole region to make everybody viable, because you can't have your small copper mines without the smelter. 'So it has to be a whole package. But all of that takes time, and we don't have time like that.'
The Advertiser
31-07-2025
- Business
- The Advertiser
'Economic death spiral' fear over ailing copper smelter
The north Queensland economy is facing an "economic death spiral" and the loss of 17,000 jobs without an immediate government bailout for mining giant Glencore's copper operations, regional leaders have warned. A delegation, including members of Katter's Australian Party, is in Canberra lobbying the federal government for funding to allow Glencore's copper smelter at Mt Isa to remain open. Last week, Glencore told staff it was preparing to put the smelter and Townsville copper refinery into care and maintenance until market conditions improve. The Swiss company closed its underground copper mine at Mt Isa this week, costing almost 500 direct jobs. Mt Isa Mayor Peta MacRae said the end of the mine's 100-year history was "devastating in itself". "But to hear that our smelter could potentially be going into care and maintenance, along with the refinery in Townsville, would put our economic ecosystem into a death spiral," she said on Thursday. "Without our smelter, there's no sulfuric acid for the phosphate, and without that phosphate and fertiliser, you will not have the agricultural industry in Queensland." Five hundred jobs are also under threat at Dyno Nobel's Phosphate Hill operations near Mt Isa, with a strategic review under way because high gas prices have made fertiliser production increasingly uneconomical. Glencore predicts its smelter and the Townsville copper refinery will lose $2.2 billion over the next seven years, and a decision to close them could come as soon as September. It was "no overestimation" to say that this would cost 17,000 direct and indirect jobs, Ms MacRae said, putting Townsville at an unemployment rate of 18 per cent, "which is simply unacceptable". Townsville Enterprise chief executive Claudia Brumme-Smith said the Queensland delegation had a "big day" of meetings with industry and government on Thursday to try to secure immediate support. "We don't have a lot of time. It's five minutes to midnight, and we need a deal right now," she said. Federal MP Bob Katter said there would be retribution at the ballot box, if the government allowed Mt Isa to vanish without a trace. "North Queenslanders have an enviable record in completely destroying politicians who treat us like this. So if you think that's a threat, I absolutely promise you it's a threat." Glencore head of corporate affairs Cassandra McCarthy told the ABC "we're running out of time". "It's not just about Glencore, it's about supporting the other miners in the region as well. And that's why we think it's worthy that the government looks at a solution that supports a region, not just the smelter." The Queensland and federal governments have indicated they want to strike a deal to keep the smelter open, but discussions are still under way. Queensland Treasurer David Janetzki said the federal government had a significant role to play in the negotiations "and it will be a national disgrace if the federal government and Glencore are not at the table negotiating". "The federal government must be part of a short-term solution while they develop a long-term strategy," he said. Glencore smelter employee Cameron Gibson said the industry was "pretty close to my heart" because his father had worked at the Mt Isa operation for 33 years and he had been there for 32 years. "This is not about a company, it's not about politics, this is about saving a community, it's about saving rural and remote Australia," he said. "The royalties that the governments get out of places like Mt Isa … that will stop, and that will create a cash flow problem for the governments and all levels." The north Queensland economy is facing an "economic death spiral" and the loss of 17,000 jobs without an immediate government bailout for mining giant Glencore's copper operations, regional leaders have warned. A delegation, including members of Katter's Australian Party, is in Canberra lobbying the federal government for funding to allow Glencore's copper smelter at Mt Isa to remain open. Last week, Glencore told staff it was preparing to put the smelter and Townsville copper refinery into care and maintenance until market conditions improve. The Swiss company closed its underground copper mine at Mt Isa this week, costing almost 500 direct jobs. Mt Isa Mayor Peta MacRae said the end of the mine's 100-year history was "devastating in itself". "But to hear that our smelter could potentially be going into care and maintenance, along with the refinery in Townsville, would put our economic ecosystem into a death spiral," she said on Thursday. "Without our smelter, there's no sulfuric acid for the phosphate, and without that phosphate and fertiliser, you will not have the agricultural industry in Queensland." Five hundred jobs are also under threat at Dyno Nobel's Phosphate Hill operations near Mt Isa, with a strategic review under way because high gas prices have made fertiliser production increasingly uneconomical. Glencore predicts its smelter and the Townsville copper refinery will lose $2.2 billion over the next seven years, and a decision to close them could come as soon as September. It was "no overestimation" to say that this would cost 17,000 direct and indirect jobs, Ms MacRae said, putting Townsville at an unemployment rate of 18 per cent, "which is simply unacceptable". Townsville Enterprise chief executive Claudia Brumme-Smith said the Queensland delegation had a "big day" of meetings with industry and government on Thursday to try to secure immediate support. "We don't have a lot of time. It's five minutes to midnight, and we need a deal right now," she said. Federal MP Bob Katter said there would be retribution at the ballot box, if the government allowed Mt Isa to vanish without a trace. "North Queenslanders have an enviable record in completely destroying politicians who treat us like this. So if you think that's a threat, I absolutely promise you it's a threat." Glencore head of corporate affairs Cassandra McCarthy told the ABC "we're running out of time". "It's not just about Glencore, it's about supporting the other miners in the region as well. And that's why we think it's worthy that the government looks at a solution that supports a region, not just the smelter." The Queensland and federal governments have indicated they want to strike a deal to keep the smelter open, but discussions are still under way. Queensland Treasurer David Janetzki said the federal government had a significant role to play in the negotiations "and it will be a national disgrace if the federal government and Glencore are not at the table negotiating". "The federal government must be part of a short-term solution while they develop a long-term strategy," he said. Glencore smelter employee Cameron Gibson said the industry was "pretty close to my heart" because his father had worked at the Mt Isa operation for 33 years and he had been there for 32 years. "This is not about a company, it's not about politics, this is about saving a community, it's about saving rural and remote Australia," he said. "The royalties that the governments get out of places like Mt Isa … that will stop, and that will create a cash flow problem for the governments and all levels." The north Queensland economy is facing an "economic death spiral" and the loss of 17,000 jobs without an immediate government bailout for mining giant Glencore's copper operations, regional leaders have warned. A delegation, including members of Katter's Australian Party, is in Canberra lobbying the federal government for funding to allow Glencore's copper smelter at Mt Isa to remain open. Last week, Glencore told staff it was preparing to put the smelter and Townsville copper refinery into care and maintenance until market conditions improve. The Swiss company closed its underground copper mine at Mt Isa this week, costing almost 500 direct jobs. Mt Isa Mayor Peta MacRae said the end of the mine's 100-year history was "devastating in itself". "But to hear that our smelter could potentially be going into care and maintenance, along with the refinery in Townsville, would put our economic ecosystem into a death spiral," she said on Thursday. "Without our smelter, there's no sulfuric acid for the phosphate, and without that phosphate and fertiliser, you will not have the agricultural industry in Queensland." Five hundred jobs are also under threat at Dyno Nobel's Phosphate Hill operations near Mt Isa, with a strategic review under way because high gas prices have made fertiliser production increasingly uneconomical. Glencore predicts its smelter and the Townsville copper refinery will lose $2.2 billion over the next seven years, and a decision to close them could come as soon as September. It was "no overestimation" to say that this would cost 17,000 direct and indirect jobs, Ms MacRae said, putting Townsville at an unemployment rate of 18 per cent, "which is simply unacceptable". Townsville Enterprise chief executive Claudia Brumme-Smith said the Queensland delegation had a "big day" of meetings with industry and government on Thursday to try to secure immediate support. "We don't have a lot of time. It's five minutes to midnight, and we need a deal right now," she said. Federal MP Bob Katter said there would be retribution at the ballot box, if the government allowed Mt Isa to vanish without a trace. "North Queenslanders have an enviable record in completely destroying politicians who treat us like this. So if you think that's a threat, I absolutely promise you it's a threat." Glencore head of corporate affairs Cassandra McCarthy told the ABC "we're running out of time". "It's not just about Glencore, it's about supporting the other miners in the region as well. And that's why we think it's worthy that the government looks at a solution that supports a region, not just the smelter." The Queensland and federal governments have indicated they want to strike a deal to keep the smelter open, but discussions are still under way. Queensland Treasurer David Janetzki said the federal government had a significant role to play in the negotiations "and it will be a national disgrace if the federal government and Glencore are not at the table negotiating". "The federal government must be part of a short-term solution while they develop a long-term strategy," he said. Glencore smelter employee Cameron Gibson said the industry was "pretty close to my heart" because his father had worked at the Mt Isa operation for 33 years and he had been there for 32 years. "This is not about a company, it's not about politics, this is about saving a community, it's about saving rural and remote Australia," he said. "The royalties that the governments get out of places like Mt Isa … that will stop, and that will create a cash flow problem for the governments and all levels." The north Queensland economy is facing an "economic death spiral" and the loss of 17,000 jobs without an immediate government bailout for mining giant Glencore's copper operations, regional leaders have warned. A delegation, including members of Katter's Australian Party, is in Canberra lobbying the federal government for funding to allow Glencore's copper smelter at Mt Isa to remain open. Last week, Glencore told staff it was preparing to put the smelter and Townsville copper refinery into care and maintenance until market conditions improve. The Swiss company closed its underground copper mine at Mt Isa this week, costing almost 500 direct jobs. Mt Isa Mayor Peta MacRae said the end of the mine's 100-year history was "devastating in itself". "But to hear that our smelter could potentially be going into care and maintenance, along with the refinery in Townsville, would put our economic ecosystem into a death spiral," she said on Thursday. "Without our smelter, there's no sulfuric acid for the phosphate, and without that phosphate and fertiliser, you will not have the agricultural industry in Queensland." Five hundred jobs are also under threat at Dyno Nobel's Phosphate Hill operations near Mt Isa, with a strategic review under way because high gas prices have made fertiliser production increasingly uneconomical. Glencore predicts its smelter and the Townsville copper refinery will lose $2.2 billion over the next seven years, and a decision to close them could come as soon as September. It was "no overestimation" to say that this would cost 17,000 direct and indirect jobs, Ms MacRae said, putting Townsville at an unemployment rate of 18 per cent, "which is simply unacceptable". Townsville Enterprise chief executive Claudia Brumme-Smith said the Queensland delegation had a "big day" of meetings with industry and government on Thursday to try to secure immediate support. "We don't have a lot of time. It's five minutes to midnight, and we need a deal right now," she said. Federal MP Bob Katter said there would be retribution at the ballot box, if the government allowed Mt Isa to vanish without a trace. "North Queenslanders have an enviable record in completely destroying politicians who treat us like this. So if you think that's a threat, I absolutely promise you it's a threat." Glencore head of corporate affairs Cassandra McCarthy told the ABC "we're running out of time". "It's not just about Glencore, it's about supporting the other miners in the region as well. And that's why we think it's worthy that the government looks at a solution that supports a region, not just the smelter." The Queensland and federal governments have indicated they want to strike a deal to keep the smelter open, but discussions are still under way. Queensland Treasurer David Janetzki said the federal government had a significant role to play in the negotiations "and it will be a national disgrace if the federal government and Glencore are not at the table negotiating". "The federal government must be part of a short-term solution while they develop a long-term strategy," he said. Glencore smelter employee Cameron Gibson said the industry was "pretty close to my heart" because his father had worked at the Mt Isa operation for 33 years and he had been there for 32 years. "This is not about a company, it's not about politics, this is about saving a community, it's about saving rural and remote Australia," he said. "The royalties that the governments get out of places like Mt Isa … that will stop, and that will create a cash flow problem for the governments and all levels."
Perth Now
31-07-2025
- Business
- Perth Now
'Economic death spiral' fear over ailing copper smelter
The north Queensland economy is facing an "economic death spiral" and the loss of 17,000 jobs without an immediate government bailout for mining giant Glencore's copper operations, regional leaders have warned. A delegation, including members of Katter's Australian Party, is in Canberra lobbying the federal government for funding to allow Glencore's copper smelter at Mt Isa to remain open. Last week, Glencore told staff it was preparing to put the smelter and Townsville copper refinery into care and maintenance until market conditions improve. The Swiss company closed its underground copper mine at Mt Isa this week, costing almost 500 direct jobs. Mt Isa Mayor Peta MacRae said the end of the mine's 100-year history was "devastating in itself". "But to hear that our smelter could potentially be going into care and maintenance, along with the refinery in Townsville, would put our economic ecosystem into a death spiral," she said on Thursday. "Without our smelter, there's no sulfuric acid for the phosphate, and without that phosphate and fertiliser, you will not have the agricultural industry in Queensland." Five hundred jobs are also under threat at Dyno Nobel's Phosphate Hill operations near Mt Isa, with a strategic review under way because high gas prices have made fertiliser production increasingly uneconomical. Glencore predicts its smelter and the Townsville copper refinery will lose $2.2 billion over the next seven years, and a decision to close them could come as soon as September. It was "no overestimation" to say that this would cost 17,000 direct and indirect jobs, Ms MacRae said, putting Townsville at an unemployment rate of 18 per cent, "which is simply unacceptable". Townsville Enterprise chief executive Claudia Brumme-Smith said the Queensland delegation had a "big day" of meetings with industry and government on Thursday to try to secure immediate support. "We don't have a lot of time. It's five minutes to midnight, and we need a deal right now," she said. Federal MP Bob Katter said there would be retribution at the ballot box, if the government allowed Mt Isa to vanish without a trace. "North Queenslanders have an enviable record in completely destroying politicians who treat us like this. So if you think that's a threat, I absolutely promise you it's a threat." Glencore head of corporate affairs Cassandra McCarthy told the ABC "we're running out of time". "We really need to know in the next couple of weeks whether there is going to be enough support on the table to allow us to continue to operate," she said. "It's not just about Glencore, it's about supporting the other miners in the region as well. And that's why we think it's worthy that the government looks at a solution that supports a region, not just the smelter." The Queensland and federal governments have indicated they want to strike a deal to keep the smelter open, but discussions are still under way. Queensland Treasurer David Janetzki said the federal government had a significant role to play in the negotiations "and it will be a national disgrace if the federal government and Glencore are not at the table negotiating". "The federal government must be part of a short-term solution while they develop a long-term strategy," he said. Glencore smelter employee Cameron Gibson said the industry was "pretty close to my heart" because his father had worked at the Mt Isa operation for 33 years and he had been there for 32 years. "This is not about a company, it's not about politics, this is about saving a community, it's about saving rural and remote Australia," he said. "The royalties that the governments get out of places like Mt Isa … that will stop, and that will create a cash flow problem for the governments and all levels."
