General News
23 July, 2025
Record profits at Ernest Henry highlight 'mismanagement': Katter
The MP says it's proof that Glencore isn't the right company to be leading the industry in the North West.
Member for Kennedy Bob Katter has welcomed news that Ernest Henry mine has hit a record profit under its new ownership, while taking the opportunity to slam former operator Glencore for what he called “spectacular mismanagement”.
Glencore sold the Cloncurry mine to Evolution Mining for $1 billion at the end of 2022.
“I am informed that Glencore shut the Ernest Henry mine because they claimed it wasn’t profitable,” Mr Katter said.
“Well, the current owners have done it at a record-breaking profit. That should give you a very clear picture of how incapable Glencore really is.
“This is a flashing neon light as to what I view as the sheer incompetence of Glencore’s operations within this country.”
Mr Katter said the success of the new operators added fuel to long-standing concerns about Glencore’s stewardship of Australia’s copper assets, especially the Mount Isa Mines copper smelter and mining operations.
“If they cannot run Ernest Henry at a profit, and we can see that another company can do so with their eyes closed, then they have no business holding onto the copper mine or smelter,” the federal MP said.
“It’s high time they handed over the reins to people who know what they’re doing and are willing to invest in the long-term future of the North West.
“What we are now seeing is proof that Australian-led enterprises can do what these foreign giants have refused to do: make it work, and make it work well.”