The effect of the closure of Mount Isa Copper Operations (MICO) will be mitigated by new jobs creation.
The announcement last year of a staged closure over five years drew concerns about the future of the city.
Main image: Glencore Copper Refineries Limited
There are emerging developments in the region which add some balance.
The detail
Underground mines Enterprise and X-41 and the copper concentrator will close early in the new financial year. The smelter and refinery are scheduled for closure in 2030 pending an investment decision later this year.
Glencore said the personnel impact would be 500.
A large number workers are expected to accept redundancies in the initial stages.
Next, Glencore is expanding operations at its signature George Fisher lead-zinc-silver mine located about 20km north of Mount Isa.
It was expected that production would increase by 20 per cent in 2026 to 3.3Mt and positions created would be offered to MICO workers.
Also, a significant number of positions currently being covered by fly in-fly out contractors at George Fisher will also be offered to those effected by the MICO closure, he said.
Mount Isa Mines is also conducting a feasibility study into re-opening the Black Star open cut mine located on the Mount Isa lease.
Again, the number of jobs created is expected to be in the hundreds chief operating officer of Glencore zinc assets Australia Sam Strohmayr said.
“The Black Star Open Cut Expansion project, if successful, would see a steady state workforce of between 300-400 people across a 10-20 year mine life,” he said.
“The pre-feasibility study is well advanced, with a $6.8 million drilling program underway to inform the next phase of the project.”
Job creation in the medium term
The Isa Carpentaria Minerals Province is the second largest base metals region in the world and exploration is running hot not least by Glencore’s Queensland Metals which is investing $87million in various programs.
Around 100kms to the east of Mount Isa, more than 95 percent of the Cloncurry shire is under mining or exploration lease.
This will translate into jobs, albeit in time.
Some are closer to offering opportunities to the city. South African company Harmony Gold is developing the Eva copper project located around 95km north east of Mount Isa.
Harmony acquired 100 per cent of the project and 16 exploration tenements in December 2022. The total copper resource is described as 3,244Mlbs. Construction is expected to start in July 2026.
Harmony is expecting to employ 800 jobs in the building phase and more than 300 jobs ongoing.
They’ll be sourcing staff locally, including from Mount Isa.
Also, as copper follows the new economy minerals-driven upward trajectory more marginal operations will again step into the spotlight.
This does rely to a large extent on the continued operation of the MIM copper smelter.