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Australian miners and smelters call for state aid during energy transition

Some of the country’s biggest industrial names are hit hardest as rising electricity costs and volatile commodity prices put their businesses at risk

A host of Australia’s biggest industrial names are appealing for government aid as high energy prices threaten to force them out of business, in a test for Prime Minister Anthony Albanese’s new Labor government and its relations with business.

Some Australian metals smelters have hit a crisis point over the past year, due to high power bills and volatile commodity prices, with thousands of workers’ jobs at risk. 

The latest alarm has been sounded by UK-listed miner Glencore, which has operations in Mount Isa, a historic mining town in Queensland. “A combination of unprecedented smelting market conditions, high costs like energy, gas and labour, and a shortage of copper concentrates is currently making the Mount Isa copper smelter unviable,” Glencore said in a statement on Friday.

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