[Glencore Urges Australian Government to Support Mount Isa Smelter] On June 20th, Glencore announced that its Mount Isa copper smelter in Queensland has become unsustainable due to “unprecedented smelting market conditions,” including high energy and labor costs as well as a shortage of copper concentrates. The company is awaiting responses from both the federal and Queensland governments regarding its request for financial assistance to maintain operations. Glencore had previously revealed in October 2023 plans to shut down the Mount Isa copper mine and associated assets, along with the Lady Loretta zinc mine located in northern Queensland, with closures expected in the second half of 2025. Initially projected to affect over 1,200 jobs, the estimate was revised to around 500 in April 2025 as workforce reallocation efforts progressed. Australian Minister for Industry and Science Tim Ayres, following an on-site inspection, emphasized the smelter’s importance to regional industrial capacity and sovereign manufacturing capabilities. Queensland’s Minister for Natural Resources Dale Last also highlighted the smelter’s strategic value to the state’s economy and infrastructure, including critical supply chain links such as the Mount Isa–Townsville rail corridor. As of now, Glencore has not received any concrete support proposals from the authorities. SMM will continue to monitor the situation and its potential implications for copper and zinc markets.