Business
Glencore tags $355m to extend life of Australian copper assets – MINING.com
Mount Isa Mines’ copper smelter and the Townsville copper refinery will continue to operate for another three years.
The undisclosed amount is intended to help Glencore mitigate the negative costs of keeping the assets running, the company said. Both, the copper smelter in Mount Isa and the refinery in Townsville, have high fixed costs and struggle to compete internationally, Glencore noted.
The support package will allow for the bricks lining the Mount Isa smelter in the north west of the state to be replaced late next year, a process that occurs every four years.
The governments backing also secures the st…
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