Glencore threat to leave Mt. Isa: Part nationalisation necessary
This may have passed under the radar of many capital city based investors but there is a real possibility that Mt. Isa may become a ghost town should Glencore close it’s copper smelter. The Katter Party are pushing for funding from the LNP Qld. State Government and the ALP Federal Government to save the town. As this article from the Townsville Bulletin indicates short term small injections of fund won’t work. Given the billions being spent on the Brisbane Olympic Games which will temporarily boost the capital’s economy it seems reasonable for the Glencore operation to be nationalised to protect Northwest Queensland.
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