Global mining heavyweight Glencore says the future of its nickel and cobalt operations in Australia will hinge on keeping a lid on labour and energy costs and access to infrastructure.

In what shapes as another blow to Anthony Albanese’s critical minerals ambitions, Glencore warned it was closely monitoring the situation and the future of its Murrin Murrin mine in Western Australia, which employs about 1500 people and is the nation’s biggest source of cobalt.