The Queensland Government reveals that the next step in securing a “strong” future for the Mount Isa region is underway with the delivery of a ‘transformation study’.
Mount Isa’s transformation study will assess the full copper value chain across the North West Minerals province, including Mount Isa and Townsville, as well as consider opportunities at the smelter and refinery across regional supply chains and emerging projects.
It will also examine long-term industrial capability, potential future pathways, market conditions and broader opportunities for workers, communities and regional economies.
Federal Minister for Industry, Innovation and Minister for Science Tim Ayres says the study is about securing a long-term future for the region by taking a clear look at Mount Isa’s copper value chain and industrial capacity.
Queensland Minister for Natural Resources and Mines Dale Last says the government is focused on securing a future for thousands of jobs that rely on the smelter, refinery and Phosphate Hill Project.
“This is an injection of confidence in the region, part of delivering a better lifestyle through a stronger economy, from the copper smelter in Mount Isa, the fertiliser plant at Phosphate Hill, to the emerging projects across the North West Minerals Province and the port workers in Townsville,” Last says.
Copper set for big wins
The study is delivered under the joint Queensland-Commonwealth support package for Glencore’s (LSE:GLEN) Mount Isa Copper Smelter and Townsville Copper Refinery announced in October 2025.
As previously reported, Glencore reached an agreement on a support package worth up to $600 million to keep the smelter and refinery operating for the next three years.
The deal ended months of uncertainty over the future of the two facilities, supporting 1,000 direct and indirect roles with government, unions and Glencore highlighting the copper supply-chain importance of the North Queensland operations.
To participate in the study’s expressions of interest, potential suppliers will need to be registered with a Queensland address on the Queensland Government’s VendorPanel Marketplace in the engineering, research and technical-based services category.
According to the Department of Industry, Science and Resources (DISR) December 2025 Resources and Energy Quarterly, output from Australian copper mines is forecast to decrease by as much as 3% in the 2026-27 year following an unchanged copper output.
Copper exports also fell in the first nine months of 2025. Western Australia suffered export declines, with the town of Boddington down 29% in the first three quarters of 2025, and Queensland as a whole down 10%.
Following DISR’s latest data, a new S&P Global study revealed that the pace of electrification is set to swell copper demand to 42 million tonnes by 2040 – representing a 50% increase from current levels, as reported.
According to global law firm White & Case’s Mining & Metals 2026 report that copper is expected to be “big winner” in 2026, following strong price growth over 2025 with both commodities outperforming US and European equity indices.
In December 2025, copper hit US$12,000 per tonne following output reductions, led by the loss of hundreds of thousands of tonnes from Escondido, Collahuasi, and Grasberg mines.
At the time of writing, copper futures held above US$5.95 per pound, maintaining recent gains despite expectations of weaker near-term demand.
Write to Aaliyah Rogan at Mining.com.au
Images: Glencore
