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Mount Isa is being positioned by the Australian and Queensland governments as a potential hub for critical minerals production, particularly copper. This initiative is part of the Mount Isa Transformation Study, which will analyze the copper value chain in the North West Minerals Province, including Mount Isa and Townsville.

A $600 million funding package supports Glencore's Mount Isa smelter and Townsville refinery, ensuring their operations continue. The Queensland government has called for expressions of interest for the study, with results expected by September. The study will explore long-term industrial capabilities and market conditions.