Mt Isa smelter gets boost as Glencore teams up with True North

Up to one million tonnes of copper will be toll treated from True North's Cloncurry project per year, allowing the major miner access to 100 per cent of copper concentrate.

The partnership provides certainty of concentrate sales for the Cloncurry Copper Project (CCP) with TNC managing director Marty Costello hailing the agreement as a major milestone.

"Glencore has agreed to purchase 100% of the copper metal produced at CCP and we can process up to one million tonnes of ore, each year, through the nearby processing plant near Cloncurry," he said.

Mr Costello said TNC is on track to soon be in production for copper.

"We're thrilled to partner with Glencore, recognising our substantial synergies and potential for future collaborations," he said.

"We are also incredibly proud this partnership will deliver economic benefits to north west Queensland.

"We aim to create as many jobs and opportunities as possible for people, businesses and communities of north west Queensland."

In October, Glencore announced it would cease copper mining operations in 2025.

Glencore's Mount Isa Mines (MIM) leadership team hosted its first community information session on Thursday, January 18, to discuss future planning around the closure.

The major miner said it has increased its exploration budget to more than $60 million for this financial year as well as investments into projects such as the Black Star Open Cut (BSOC) extension to reopen and extent the existing pit.

Chief Operating Officer for Glencore's Zinc and Copper Assets, Sam Strohmayr said MIM still had a long future ahead.

"I want to assure everyone that we are absolutely focused on two things: delivering the best possible closure and transition process and looking to the future for new opportunities, including the ongoing investment in our long-life zinc, lead, and silver operations," he said.