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Prime Minister Anthony Albanese announced a joint Commonwealth-Queensland investment in Glencore’s Mount Isa Copper Smelter and Townsville Refinery Wednesday, securing more than 600 direct jobs at a facility critical to global copper supply for clean energy technologies.
The Australian and Queensland governments have committed financial support to ensure the ongoing operation of Glencore’s Mount Isa copper facilities, protecting more than 1,100 jobs in a region heavily dependent on the mining industry.
Prime Minister Anthony Albanese made the announcement in Parliament Wednesday, describing copper as essential to 21st-century clean energy infrastructure. “In this century, part of the transition to clean energy requires a greater use of copper. It is used in everything from electric vehicles to make sure as a conductor that batteries, everything that will power the globe in the 21st century just about has copper in it,” Albanese said.
The investment will support more than 600 direct jobs at the Mount Isa smelter, with an additional 500 jobs at the nearby Phosphate Hill facility also benefiting from the arrangement. The Prime Minister emphasized that the agreement includes conditions requiring Glencore to conduct a transformation study and evaluate the “end-to-end copper value chain in the region.”
“The investment announced today has been made contingent on Glencore taking their share of responsibility as well,” Albanese stated. “This includes conducting a transformation study, putting in the work to bring the facility into the modern day.”
The Prime Minister thanked Queensland Premier David Crisafulli for “constructive engagement” over recent weeks to finalize the agreement, representing bipartisan cooperation between the federal Labor government and the state Liberal National Party administration.
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Albanese emphasized the facility’s importance to both regional Queensland and national copper production capacity. “Glencore’s Mount Isa smelter reinforces Australia’s position as a key global supplier of copper,” he said.
The announcement carries particular significance for Mount Isa, a North Queensland community where mining has sustained employment for multiple generations. “At Mount Isa, as the member for Kennedy has reminded the House on a number of occasions, there are third generation workers at the Mount Isa facility. Our government wants there to be a fourth and fifth generation,” Albanese said.
The Prime Minister acknowledged he has met workers at the facility during multiple visits to Mount Isa and understands the devastating community impact if the smelter were to close. “It’s quite clear that if that facility closed, then that would have a devastating impact on that community and on that important town in North Queensland,” he stated.
The investment requires Glencore to evaluate bringing the facility “into the modern day” and assess the complete copper value chain regionally. Both Commonwealth and Queensland governments will support this evaluation process, according to Albanese.
The Prime Minister directed pointed criticism at Glencore’s corporate performance, noting the company is “highly profitable” and “delivering billions in dividends to shareholders this year alone.”
“Glencore needs to back Mount Isa just as Mount Isa has backed Glencore and both the Premier and myself are very clear about that with the company,” Albanese said, emphasizing that corporate responsibility extends beyond immediate profit considerations.
The announcement positioned copper as strategically important to Australia’s clean energy transition and international competitiveness. Copper’s excellent electrical conductivity makes it essential for electric vehicles, renewable energy infrastructure, and battery systems that are central to decarbonization strategies worldwide.
Global copper demand is projected to increase substantially as countries pursue net-zero emissions targets, with electric vehicles using approximately four times more copper than conventional internal combustion vehicles. Wind and solar installations also require significantly more copper per unit of generating capacity compared to traditional power plants.
Australia is one of the world’s major copper producers, with significant reserves in Queensland, South Australia, and other states. Mount Isa represents a substantial component of this production capacity, with operations dating back decades.
The Prime Minister’s message to workers was direct: “We say to those workers at that facility, we’re going to look after your jobs. We want to make sure that your children can have a good job too. That is what we’re determined to do. That’s what today’s announcement will deliver.”
The announcement represents the latest in a series of government interventions to secure strategic industrial capacity, particularly in sectors viewed as important to economic transition or national security. However, specific financial details of the Commonwealth and Queensland contributions were not disclosed during the parliamentary announcement.
Independent Member for Kennedy Bob Katter, who represents the Mount Isa region, has been a persistent advocate for the facility and regional mining employment. The Prime Minister’s acknowledgment of Katter’s advocacy reflects the cross-party recognition of Mount Isa’s importance to North Queensland.
The transformation study requirement suggests both governments are conditioning support on Glencore demonstrating long-term commitment to modernizing operations rather than simply maintaining current configurations.
Industry observers note that copper smelting faces increasing operational costs and environmental regulations globally, with some facilities closing in developed economies. The Australian government’s intervention indicates strategic importance assigned to maintaining domestic copper processing capacity despite these challenges.
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