15 DECEMBER 2023 WorldWide Drilling Resource® Operational Changes for Mount Isa Mines Adapted from Information by Glencore Glencore announced significant changes to its Australian metals operations in Queensland. The company notified its workers that after 60 years of copper mining and a six-year extension beyond its original expected life of mine, Glencore’s Mount Isa Mines underground copper operations of Enterprise, X41, and Black Rock, along with the copper concentrator, will close in the second half of 2025. After conducting a range of studies and reviews seeking to further extend the life of the underground copper mines, it was determined the remaining mineral resources are not economically viable due to low ore grades and areas where, due to geological conditions, safe extraction cannot be achieved using current technology. This is all coupled with aging infrastructure. Mount Isa underground copper mines, copper concentrator, and supporting services currently employ around 1200 people. Lady Loretta zinc mine, located about 86 miles northwest of Mount Isa, which was a finite orebody with a seven-year mine life, will also close in 2025. Sam Strohmayr, chief operating officer of Glencore’s Zinc Assets in Australia said, “We know this decision will be disappointing for our people, our suppliers, and the Mount Isa community. The reality of mining is that mines have a beginning, middle, and end. And unfortunately, after 60 years of operation, Mount Isa’s underground copper operations have now reached that end. We want to give our people as much time as possible to consider the best options for them and their families, which is why we are notifying our workers and the community almost two years before these mines close. Our focus over the coming months will be to work closely with our people and contractors, our suppliers, and the Mount Isa community to provide support as we move towards closure of these assets.” The company, which produces coal, copper, cobalt, nickel, zinc, lead, and silver from 23 mining operations in Australia, will continue to invest in the long-term future of Mount Isa Mines, including the George Fisher Mine with a current life of mine to 2036, plus the zinc-lead concentrator and lead smelter. They also expect the copper smelter and refinery to continue operating to 2030. “These are important strategic assets, not just for Glencore, but for the North West Minerals Province and the future of Queensland’s critical minerals industry,” said Mr. Strohmayr. MIN February Issue Deadlines: Space Reservation - December 25 Ad Copy - January 1
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