Glencore Mount Isa smelter

Question

1. On 8 October 2025 the Government announced support for Glencore's Mount Isa smelter, with a $300 million Commonwealth contribution. Budget Paper No. 3 (p.119) identifies $50 million in 2025-26, $100 million in 2026-27 and $50 million in 2027-28 for ''securing future Glencore Mount Isa operations,'' totalling $200 million, with nothing in 2028-29 or 2029-30. a. Is the Government still committed to the full $300 million in support? If not, why not, and what has changed since the October 2025 announcement? b. Has the Government reduced its financial support for Glencore? If so, why? 2. At February 2026 Estimates, officials said there were review points around the ongoing need for financial assistance, the first on 30 April 2026. a. What was the outcome of that review? b. Did the review recommend reducing funding to Glencore, including the $100 million not reflected in the Budget? If funding was cut, when was Glencore notified? c. Is there a risk that assistance to Glencore could be cut further, and when is the next review scheduled? 3. In February 2026 Estimates it was established that assistance would be worth $200 million per year. Budget Paper No. 3 lists only $50 million for 2025-26. a. Is the Queensland Government contributing more than the Commonwealth to meet the $200 million commitment? If so, why? b. Has the Government's funding commitment for the first year changed since February 2026? 4. Glencore commenced its 2026 rebricking program on 7 May 2026, and the Mount Isa Transformation Study is underway. a. What is the $50 million in the first year going towards? b. Is Commonwealth funding being used to complete the Mount Isa Transformation Study? c. Is Commonwealth funding being used for the 2026 rebricking program, and has Glencore approached the Commonwealth for additional funding for rebricking?

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• BI-026_Liddle_Glencore Mount Isa smelter_DISR.pdf (opens in a new tab)