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Glencore, led by CEO Gary Nagle, will receive A$600 million ($395 million) in Australian government support to keep its Mount Isa copper smelter and Townsville refinery operational. The funding, shared equally between the federal and Queensland state governments, comes amid concerns over access to critical minerals needed for energy transition and national defense. Earlier this year, Glencore warned the Mount Isa smelter might close, risking around 600 jobs. Glencore highlighted that the Mount Isa and Townsville operations are key to Queensland’s copper supply and Australia’s broader critical minerals strategy. The company also plans A$2.5 billion ($1.6 billion) in investment over the next six years in the region, focusing on zinc, lead, and copper projects. 💬 Check the comments for the full story!