By John Quiggin, The University of Queensland The federal government’s announcement of a A$600 million rescue package for Glencore’s copper smelting and refining operations in Mount Isa and Townsville marks a definitive shift in Australia’s industry policy. The announcement follows the $2.4 billion rescue of the Whyalla steelworks, and a smaller assistance package for metals…
Following reports this week that federal industry minister Tim Ayres and Queensland regional development minister Dale Last were to announce a bailout for Glencore’s Mount Isa Copper Smelter and Townsville Refinery, the size and structure of the support have been shared. Ayres (pictured) announced on Wednesday that the funding will amount to $600 million, split…
Mount Isa Mayor Peta MacRae has issued an urgent plea to state and federal governments to secure a deal saving the Mount Isa Copper Smelter and Townsville Refinery, warning 17,000 jobs are at risk as mining giant Glencore prepares to mothball operations. The desperate intervention on Wednesday follows Glencore’s confirmation it is preparing to place…
The Australian Workers Union has backed calls for a strategy to manage the billions of dollars being sought to prop up fiscally troubled metal smelters, as The Australian Financial Review reports. National secretary Paul Farrow said the AWU would welcome a smelting strategy under Labor’s Future Made in Australia policy, with equity or long-term loans…
Gravitational energy storage developer Green Gravity has begun minesite concept engineering, and local community engagement in Mount Isa, Queensland for the deployment of up to 2 GWh of gravitational energy storage. Green Gravity is working with the Mount Isa City Council and copper mining company Glencore to examine the potential of utilising mineshafts at the…