Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
23 July 2025 | Other

Glencore's Australian copper mines nears closure — Bloomberg

Copper
Glencore's Australian copper mines nears closure — Bloomberg

Glencore will shutter its last two copper mines in Mount Isa, Queensland next week, Bloomberg reports. While the mines, operational for over 60 years, will close due to declining ore quality, a final decision remains pending on whether to also close the nearby copper smelter and Townsville processing facilities.

The company is currently negotiating with Australian authorities for subsidies to maintain operations at facilities that process third-party ore. Despite favorable copper market conditions, Western smelters face mounting pressure from subsidized Chinese competitors.

The mine closures coincide with Glencore's Tuesday announcement of its Lady Loretta zinc project sale to Austral Resources. The mining giant will release its first-half earnings report on August 6.

Elena Berseneva MarketCheese

Recommended

South Africa. Mining Production. The value of the indicator has decreased from 9.7% to 2.5%
Today at 9:30 AM
United States. CFTC Copper speculative net positions. The value of the indicator has decreased from 63.3K to 62.8K
8 May
United States. CFTC Copper speculative net positions. The value of the indicator has increased from 40.2K to 55.1K
17 April
China. Industrial Production (YoY). The value of the indicator has decreased from 6.3% to 5.7%
16 April
United States. Atlanta Fed GDPNow. The value of the indicator has increased from 3.7% to 4%
Today at 3:37 PM
Top news
United States. Retail Sales (MoM). The value of the indicator has decreased from 1.6% to 0.5%
Today at 12:30 PM
European Union. GDP (QoQ). The value of the indicator remained at the same level of 0.1%
Yesterday at 9:02 AM
United States. CPI (YoY). The value of the indicator has increased from 3.3% to 3.8%
12 May
United States. Nonfarm Payrolls. The value of the indicator has decreased from 185K to 115K
8 May
United States. Unemployment Rate. The value of the indicator remained at the same level of 4.3%
8 May
All news

Forecasts

ETHUSD buy
Period: 28.05.2026 Expectation: 155 pips
Investing in ETHUSD up to $2,425
Indicators and reports FA Other Hot news Chart analysis
Today at 11:11 AM 19
Reed_Marcus
Gold buy
Period: 21.05.2026 Expectation: 900 pips
Purchasing gold with $4,790 in view during consolidation following recent correction
FA Other Technical analysis Indicators Chart analysis Fundamental analysis
Today at 10:26 AM 18
Lyra_Moonwell1
USDJPY buy
Period: 14.07.2026 Expectation: 2700 pips
Investing in USDJPY with 160.700 target
Indicators and reports FA Other Hot news Chart analysis
Today at 09:21 AM 24
Sinclair_John
EURUSD sell
Period: 31.05.2026 Expectation: 900 pips
​​EURUSD sell-off targets 1.1655
FA Other TA Other
Today at 09:12 AM 10
Bruce_Powers
S&P 500 sell
Period: 30.06.2026 Expectation: 1600 pips
Go short on SPX as correction risks mount
TA Other
Today at 09:10 AM 7
McCarthy_Raymond
S&P 500 sell
Period: 21.05.2026 Expectation: 1500 pips
Selling S&P 500 with 7,300 target amid inflation shock and overheated market conditions
Indicators and reports Technical analysis Indicators Hot news Fundamental analysis
Today at 08:03 AM 14
Emily_Foster
Go to forecasts