The Queensland and Australian Governments have announced a joint investment of up to $600 million over the next three years to support Glencore’s Mount Isa Copper Smelter and Townsville Refinery, aiming to sustain regional manufacturing jobs and maintain Australia’s domestic minerals processing capability.
According to the Queensland Government, the joint funding package – delivered over three years – aims to protect more than 600 direct jobs at Mount Isa and Townsville, along with a further 500 positions at the nearby Phosphate Hill facility.
The investment will be released in three payments of up to $200 million each, contingent on a transformation study and several review points, the government said in a news release.
The study will examine ways to strengthen Mount Isa’s industrial base, assessing long-term opportunities for copper processing and manufacturing in the region to build a more diverse and resilient local economy.
Dale Last, Queensland Minister for Natural Resources and Mines, Minister for Manufacturing and Minister for Regional and Rural Development, said the agreement reflects the government’s determination to strengthen the state’s manufacturing sector and regional communities.
“The deal demonstrates the Crisafulli Government’s commitment to ensuring Queensland is the world leader in resources and minerals processing,” Last said.
“The Mount Isa copper smelter and Townsville copper refinery are cornerstones of our economy that support not only 600 direct jobs, but thousands of jobs across the regional supply chain.”
Mr Last said the package restores confidence and provides certainty to families and communities across North and North-West Queensland.
“This deal is about standing with them, because we back Mount Isa, we back our metals processing sector and we back the hard-working Queenslanders who keep our economy strong,” he said.
Federal Minister for Industry and Science Tim Ayres said the investment underscores the Albanese Government’s commitment to a “Future Made in Australia,” supporting domestic manufacturing and supply chain resilience.
“The Albanese Government will always stand up for Australian industry and workers,” Ayres said. “This funding will protect Mount Isa’s workforce and regional Queensland industries, while reinforcing the need to deliver good skilled jobs to deliver a Future Made in Australia.”
He added that copper remains essential to the energy transition. “Copper is critical to building solar panels, wind turbines and energy storage systems. This investment strengthens our supply chains and supports Australia’s transition to net zero,” Mr Ayres said.
The Heads of Agreement signed between both governments and Glencore is expected to provide stability for workers, local businesses, and the broader copper supply chain.
The Mount Isa Copper Smelter currently provides half of Australia’s copper smelting capacity, making it a key component of the nation’s manufacturing and export strength.
Both governments said the agreement delivers certainty to workers and local industries while supporting long-term transformation and sustainability in Queensland’s manufacturing and minerals processing sector.
