Glencore to Close Mount Isa Mines Operations in Australia

Swiss commodities giant Glencore announced its decision to cease operations at the Mount Isa Mines underground copper operations and copper concentrator in Australia by the second half of 2025.

Based on various studies and reviews to extend the lifespan of these underground copper mines, Glencore unfortunately concluded that it is not feasible to continue, as they have reached the end of their mine life. The closure will affect approximately 1,200 employees who are currently involved in the mines, concentrator, and associated services.

Having served for nearly six decades, the Mount Isa Mines underground copper operations have played a significant role in the region's mining industry. The closure decision marks the end of an era.

In addition to the copper operations, Glencore confirmed that the Lady Loretta zinc mine, located approximately 90 miles northwest of Mount Isa, will also be closed in 2025. The company highlighted that the Lady Loretta mine is confined to a finite orebody with a projected mine life of seven years.

However, it is important to note that Glencore's other businesses at Mount Isa Mines, including a copper smelter, zinc-lead concentrator, lead smelter, the George Fisher mine in Mount Isa, as well as a copper refinery in Townsville, will continue their operations unaffected.

Glencore's decision to close the Mount Isa Mines operations reflects its commitment to evaluating and optimizing its portfolio based on strategic considerations. This move aligns with Glencore's ongoing efforts to ensure the long-term sustainability and profitability of its operations worldwide.