One of the world's biggest copper mines is set to close, leaving a Queensland town reeling and 1200 workers in limbo.
After 60 years of operation, Glencore on Wednesday announced it would stop mining copper at Mount Isa in Queensland's northwest in 2025.
The multinational company confirmed "end of mine life" was looming at Australia's second largest copper producer, citing low ore quality and ageing infrastructure.
The decision will affect 1200 workers but also the 20,000-plus population of Mount Isa, a town which had been celebrating its 100th year.
"We knew this day would come but it's still a bitter pill," Mount Isa Mayor Danielle Slade told AAP.
Glencore's Lady Loretta zinc mine 140km northwest of Mount Isa will also close in 2025.
The mining giant said it was too early to know how many of the 1200 workers would be made redundant.
Queensland Treasurer Cameron Dick announced a $50 million support package before flying to the mining town with the resources minister.
Mr Dick ruled out any possibility of the state government negotiating with Glencore in a bid to keep the copper mine open, saying they were told about the closure a month ago.
"Glencore made it very clear to us there was nothing that the Queensland government could say, or do, or pay, to continue those mines operating in that community," he told reporters.
"The work of the government now switches towards supporting the families of the miners and the community going forward.
"Mount Isa is part of Queensland's mining heritage, and it will be part of Queensland mining future."
Up to $30 million of the state government support package is set aside to accelerate the development of resource projects in the region over the next five years.
Another $20 million will go to an economic package for Mount Isa with Glencore expected to match the figure.
"That will have a big impact... it's going to be felt throughout that whole region," Premier Annastacia Palaszczuk said of Glencore's decision.
She believed Mount Isa's future was still bright with the northwest minerals province set to open up with CopperString 2032, a 1110km power line from Townsville set to link mines to the national energy grid.
It is estimated untouched minerals found in the northwest province are valued at $500 billion.
"Mount Isa has been here for a century. We will back this town," the premier said.
The Mount Isa mayor vowed to work with the state government to ensure the town remained a mining hub.
"I'll be working to make sure Mount Isa Mines (Glencore) make locals their absolute No.1 priority in who gets looked after first," Ms Slade said.
"Mount Isa is tough and it's resilient. And this isn't the end of mining - it's barely even the beginning.
"We're in the middle of $500 billion worth of minerals and they are minerals the whole world wants."
Local state MP Robbie Katter feared the copper mine closure would have an unfathomable impact on the northwest.
But he was convinced there was a future for a copper operation in Mount Isa, accusing Glencore of not having an appetite for long term planning and development in the region.
"The reality is no one wants Glencore here in the northwest," the Traeger MP said in a statement.
Glencore's copper smelter is set to continue operating until 2030.
Its other metals assets including the George Fisher zinc-lead-silver mine, zinc-lead concentrator, Mount Isa lead smelter and Townsville copper refinery will continue operating.
