Glencore to to shut Mount Isa copper mines by 2025 - report

(Sharecast News) - Glencore is reportedly is set to close its copper mining operations in Mount Isa by the end of 2025, resulting in the loss of about 1,000 jobs, but will keep its refinery and smelters open in North Queensland. According to AFR, Glencore will announce on Tuesday that its three underground copper mines in Mt Isa will be closed by the second half of 2025.

It was understood the mines are reaching the end of their natural life and the copper grade had become much lower which forced the decision.

But in a bid to allay local concerns, Glencore will confirm it will keep its copper smelter in Mt Isa and refinery in Townsville open, with enough third-party work to keep them profitable, AFR said.

There will also be no change to its zinc operations in Mt Isa in the state's north-west.

Glencore employs about 3500 people across its zinc and copper operations in Mt Isa.

According to AFR, unions have been negotiations with Glencore and the state government about the job losses.