The Queensland Government has unveiled a support package of up to $50 million for mine workers and the Mount Isa community.
The announcement follows Glencore’s decision to close its underground copper mine and copper concentrator in Mount Isa in 2025, along with the nearby Lady Loretta Zinc mine.
The support package comprises two elements:
- Up to $30 million to accelerate development of resource projects in the North West Minerals Province in the next five years
- Up to $20 million, to be matched dollar-for-dollar by Glencore, for an economic structural adjustment package for Mount Isa and North West Queensland.
The matched funding for the structural adjustment package is in addition to any support Glencore intends or is obliged to provide to their affected workforce.
The package will be delivered by the Department of State Development, Infrastructure, Local Government and Planning and will be tailored to provide support for workers and the community.
Mount Isa is at the heart of one of the richest minerals provinces in the world, with new critical industry minerals worth a potential $500 billion ready to be mined.
Queensland Premier Annastacia Palaszczuk said: “For 100 years, Mount Isa has been part of Queensland’s mining heritage. We’re determined Mount Isa and North West Queensland will be at the heart of our state’s mining future as well. Our number one priority is to protect jobs and retain skilled workers in this important region.
“I understand many workers and their families will find Glencore’s decision a difficult one to accept. But we will always do what we can to support workers and their families to find new good, secure jobs. North West Queensland is central to the delivery of critical minerals needed for global decarbonisation and skilled workers like those at Glencore are vital for this new industry that is set to generate thousands of jobs,” said Palaszczuk.
The $245 million Critical Minerals Strategy is helping to unlock new opportunities with support for exploration through reduced rents, the establishment of critical mineral zones, a $100 million Critical Minerals and Battery Technology Fund, and the $75 million Queensland Resources Common User Facility.
This is further supported by the Big Build $5 billion investment in CopperString 2032, which will deliver a 1,100 kilometre transmission line from Townsville to Mount Isa.
The North West Queensland Regional Transformation Strategy and Implementation Plan currently under development will also harness the region’s world-class resources, agriculture industry and emerging renewable energy industry to identify further opportunities for jobs and investment growth.
