Glencore Warns of Smelter Crisis in Australia

On June 20, 2025, Glencore warned that its Mount Isa copper smelter in Queensland faces closure due to mounting financial losses—up to $30 million monthly. The company cited collapsing treatment and refining charges, high energy costs, and a global copper concentrate squeeze. As one of Australia’s key processing hubs, Mount Isa’s potential shutdown raises alarms over domestic value chains and job losses, prompting urgent calls for policy support.