Glencore to close Mount Isa Mines after 60 years

After 60 years of copper mining, Glencore is set to close the Mount Isa Mines underground copper operations (Enterprise, X41 and Black Rock) and copper concentrator in H2 2025.

Mount Isa Mines’ other metals assets including the copper smelter, George Fisher mine, zinc-lead concentrator and lead smelter in Mount Isa, plus the copper refinery in Townsville, will continue operating.

Glencore conducted a range of studies and reviews to further extend the life of the mines but unfortunately it has not been possible, and they have reached the end of mine life.

These studies also revealed that the remaining mineral resources aren’t economically viable due to low ore grades, there are areas where safe extraction can’t be achieved and ageing infrastructure.

Glencore’s Lady Loretta zinc mine, a finite orebody with a seven-year mine life, will also close in 2025.

Glencore’s zinc assets chief operating officer Sam Strohmayr says this decision will be disappointing for staff and suppliers.

“The reality of mining is that mines have a beginning, middle and end. And unfortunately, after 60 years of operation, Mount Isa’s underground copper operations have now reached that end,” he said.

“Our focus over the coming months will be to work closely with our people and contractors, our suppliers and the Mount Isa community to provide support as we move towards closure of these assets.

“Glencore will continue to invest in the long-term future of Mount Isa Mines, including the George Fisher mine with a current life of mine to 2036, and our zinc-lead concentrator and lead smelter. We also expect the copper smelter and refinery to continue operating to 2030, subject to approval of additional capital investment.”