Glencore hits back at Katter’s Mount Isa Mines Bill

Glencore has slammed KAP leader Robbie Katter's 'use it or lose it' legislation targeting its Mount Isa operations as aggressive and unworkable after a hearing in the mining city. Mr Katter introduced the Mount Isa Mines Limited Agreement (Continuing Mining Activities) Amendment Bill 2024 in a bid to loosen Glencore’s hold on Mount Isa mineral assets. The Bill was born after Glencore announced plans to close its Mount Isa Mines underground copper operations and copper concentrator in the second half of 2025. Those operations and supporting services employ about 1200 people. A Glencore spokesman said the decision to close the Mount Isa underground copper operations was very carefully considered and not taken lightly. "The mine has come to the end of its life and the remnant resources are very low grade and technically inaccessible," he said. "Glencore has significant concerns about Mr Katter's proposed Mount Isa Mines Limited Agreement (Continuing Mining Activities) Amendment Bill 2024. "The proposed Bill is unnecessary, would lead to significant unintended consequences and - importantly the Queensland Government already has a robust regulatory regime that is fit for purpose. "The 'use it or lose it' conditions referred to in the proposed Bill already exist within the existing Queensland regulatory regime to ensure companies continue to develop natural resources consistent with their approvals and terms of their mining leases." He said the Bill failed to consider the practical reality that the mining and processing facilities at Mount Isa Mines functioned as a fully integrated complex. "We are committed to safe and responsible operations in Mount Isa and North-West Queensland that continue to bring benefits for our workforce, for the local communities and for many businesses in the region." Related: Katter's case for change at Mount Isa The Clean Economy Jobs, Resources and Transport Committee that is considering Mr Katter's Bill held a hearing yesterday in Mount Isa, where Glencore and the Queensland Resources Council were represented. Mr Katter - the Mount Isa-based member for Traeger - said it was bewildering that the peak body for the mining sector here in Queensland was actively suggesting that Queensland’s resources should be left in the ground, locking away opportunities for junior or other prospective miners. “There is clear evidence that a different owner of a mine can breathe new life into a mine – Ernest Henry is a fantastic example of that," he said. “Glencore thought there was only a few years left on the mine, yet within only 18 months, junior miner Evolution had a real go and extended the mine life for almost 20 years - that’s the difference between a real miner and a lazy commodity trading company.” Mr Katter said he had questioned representatives of Glencore as to why they were worried about the legislation. “If the mine is truly not viable, then you wouldn’t be afraid of letting others having a look under bonnet,” he said. “It seems that Glencore would rather invest in other mines in countries with lower wages and safety standards, while leaving Queensland’s resources locked away, out of reach of a real mining company.” Mount Isa Mayor Peta MacRae said Mount Isa Mines and the copper smelter should continue to have a place in the community. "We don’t want jobs lost while the mine sits dormant. We don’t want the company to avoid its environmental and rehabilitation obligations because the mine sits dormant," Cr MacRae said. "Therefore, I support what the Bill is seeking to achieve - in particular, where changes to operations adversely affect the local Mount Isa community." Cr MacRae said while times had changed, mining was still Mount Isa's future - particularly when it came to critical minerals. "It will be a different type of mining, but it will continue to draw on all the strengths and benefits that have sustained mining across North West Queensland for over 100 years," she said. "Mount Isa is the ideal location to extract critical minerals. Our advantages currently exist and will remain, no matter what the mining task." Written submissions on the Bill can be viewed HERE

Glencore hits back at Katter’s Mount Isa Mines Bill

Industry Queensland

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