Newsroom

July 17, 2025

FEDERAL Member for Kennedy Bob Katter has welcomed news that Ernest Henry mine has hit record profit under its new ownership, while taking the opportunity to slam former operator Glencore for what he called "spectacular mismanagement".

"I am informed that Glencore shut the Ernest Henry mine because they claimed it wasn't profitable," Mr Katter said. "Well, the current owners have done it at a record-breaking profit. That should give you a very clear picture of how incapable Glencore really is.

"This is a flashing neon light as what I view as the sheer incompetence of Glencore's operations within this country," Mr Katter warned.

The Ernest Henry operation, near Cloncurry, was sold to Evolution Mining in 2022. Under this new ownership, it has delivered significant returns and reinvestment in the local economy. The success of the new operators adds fuel to long-standing concerns about Glencore's stewardship of Australia's copper assets, especially the Mount Isa Mines copper smelter and mining operations.

"If they cannot run Ernest Henry at a profit, and we can see that another company can do so with their eyes closed, then they have no business holding onto the copper mine or smelter," Mr Katter said. "It's high time they handed over the reins to people who know what they’re doing and are willing to invest in the long-term future of the Northwest Mineral Province."

Katter has long argued for the national interest control of critical minerals infrastructure, saying multinationals, like Glencore, prioritise overseas shareholders over Australian workers and regional development.

"What we are now seeing is proof that Australian-led enterprises can do what these foreign giants have refused to do: make it work, and make it work well."

Link to Evolution Mining Quarterly Report.