The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing Rights
Oct 17 (Reuters) - Miner and trader Glencore (GLEN.L) is set to close its three underground copper mines in Mount Isa by the end of 2025, in a move that will result in the loss of about 1,000 jobs, newspaper Australian Financial Review reported on Tuesday. Metal Chipper
The company, however, will keep its refinery and smelters open in Central Queensland, according to the report.
Global miners are grappling with soaring costs for projects amid economic uncertainty. Copper producers are now seeking to spread the soaring cost of new projects for the metal key to the energy transition.
Mount Isa Mines is the second-largest copper producer in Australia, according to Glencore's website.
Reporting by Eva Mathews in Bengaluru; Additional reporting by Clara Denina; Editing by Shilpi Majumdar
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