Newsroom

July 3, 2025

“Australia is about to walk away from the critical minerals boom,” the Katter’s Australian Party (KAP) Leader and Member for Traeger has said.

“Foreign ministers are talking about China’s dominance and determination to break the world’s critical mineral market, yet we’re watching the ‘close’ sign being prepared to be nailed to the door of our only tolling copper smelter in Australia.

“The Mount Isa Copper Smelter must not close. We cannot let China win and lose our ability to produce strategic and critical minerals,” Mr Katter said.

Global commodity trader Glencore has announced it is losing $30 million per month operating the Mount Isa copper smelter.

"We know that Glencore don’t want to run the smelter, so it’s high time for Australia to relieve them of what they see as a liability, and put in a willing operator,” the KAP leader said.

“The Government has been given a viable proposal, which would create a shared user entity – in the interest of Australians, not a Swiss boardroom, which I am confident is amenable to Glencore – our leaders simply need to act in Australia’s interest and force Glencore to the table.

“It would amount to criminal levels of stupidity to simply throw cash at the current owners of the smelter.

“There must be an emphasis that any assistance is only provided under a shared ownership model.

“The options available to the government range from passively watching the collapse, through to calling in the asset and transferring it to another willing operator.

“Industry stakeholders have observed that any business of this type that is seeking $2 Billion over ten years cannot be worth any more than one dollar.

“Glencore themselves have come out in a rare public appearance to agree with us that Australia’s Critical Minerals dream hangs in the balance.

“Our Leaders must relieve them of that decision and take strong, deceive action to protect Australia from China’s destructive influence.

“Mount Isa smelter must be returned to Australian control to guarantee our long-term industrial interests,” Mr Katter said.