Taxpayer bailout expected for major smelter: report

The Swiss mining giant Glencore is reported to be ready to get a package of rescue of taxpayers to save a problematic trazabe facility and potentially save hundreds of jobs.

According to Australian Financial Review, the Minister of Federal Industry Tim Ayres and Queensland Resources Minister Dale Last is expected to make an announcement at Mount Isa in Northern Queensland on Wednesday.

In July, Glencore closed the underground copper mine in MT ISA, and almost 500 direct loss of work.

He also warned that the nearby İzabe plant and the Townsville copper refinery were preparing to take care and repair until the market conditions healed.

Glencore said that the assets of the Izabe facility lost money and envisaged a $ 2.2 billion damage in the next seven years.

In order to save the documentary, they were called to provide support to the governments of Federal and Queensland.

The Federal Opposition said that every effort to keep copper operations open would be good news for the local society.

Susan McDonald, a spokesman for resources, said in a statement, “This is a nice news, but it shouldn’t have been so long,” he said.

“Months have been living under a cloud of uncertainty as the Izabe facility and refinery workers and support industries in Mount Isa and Townsville have been on foot.”