There's no smelting in Townsville, just the refinery where it takes CU anodes from Mount Isa smelter from 99.98 to 99.99%. That .01% process adds a signifiant value and world demand to Mount Isa's copper to that of others. I would like to think they don't want to lose that branding.
I would imagine concentrate would be shipped to Asia from Townsville if smelting and refining ends.
If third party ore can fill smelting - and even concentrating - capacity then I think the business would easily continue. that obviously depends on copper prices, new mines opening up and also that the new mines sign agreements with glencore. They seem to be having a bit of a restructure as well so potentially gearing up for the future, whatever it may bring.
The Queensland government has exploration incentives and released more land for exploration. potential is all there. just need business to make their cases.
C6C Price at posting:
$1.43 Sentiment: None Disclosure: Held
