Coalition to push for Senate inquiry into metals manufacturing industry

The Coalition will push for a Senate inquiry into the future of Australia’s metals manufacturing industry, as crippling energy costs push struggling smelters and refineries to the brink.

Opposition industry spokesman Alex Hawke

The Coalition will push for a Senate inquiry into the future of Australia’s metals manufacturing industry, as crippling energy costs push struggling smelters and refineries to the brink.

Across the country aluminium, zinc and copper facilities, including in Mount Isa and Townsville, have requested government assistance to remain operational and keep thousands of workers employed.

Glencore has reportedly asked for $2bn over 10 years to keep its Mount Isa copper smelter open, amid significant declines in treatment and refining revenues, caused by strong competition from China and exacerbated by rising costs.

Ahead of Parliament resuming next week, the Coalition says a Senate inquiry would be a valuable opportunity to hear directly from industry, paint a more fulsome picture of the challenges and opportunities, and pave a sustainable path forward without the constant need for taxpayer-funded interventions.

Opposition industry spokesman Alex Hawke said the government needed to address the underlying challenges.

“Labor’s so-called Future Made in Australia agenda and their National Reconstruction Fund resemble the old interventionist policies of the 20th century,” he said.

Opposition assistant manufacturing spokesman Andrew Willcox warned: “If we let these important assets go by the wayside, others around the world, such as China and Indonesia, will fill the void.

“A full inquiry aims at uncovering reasons behind these major assets and others like it across Australia being put in jeopardy, and more importantly what the Federal government can and should be doing to prevent such closures.

“Australian smelting and refining are already up against it with stiff competition internationally and the closure of these facilities would be yet another blow to our sovereign capabilities.”

It follows calls last week from the United Workers’ Union for a strategy to manage the billions of dollars being sought to prop up the troubled smelters.

Originally published as Coalition to push for Senate inquiry into metals manufacturing industry