Mount Isa – The Next Economy

Launching the Mount Isa Future Ready Economy Roadmap

The Next Economy, together with Mount Isa City Council and Climate-KIC Australia, is proud to launch the Mount Isa Future Ready Economy Roadmap.

Mount Isa, like many other industrial regions, is at the crossroads of major economic change. The region has a rich asset base, including the North West Minerals Province, but faces the imminent closure of the Mount Isa Mine’s underground copper mine operations and copper concentrator.

This closure will impact approximately 1,200 workers from mid-2025 and the future of the local copper industry, a change that needs to be managed alongside increasing demand for critical minerals, affordable and reliable energy generation and storage options, and innovative logistics solutions. Global trade uncertainty and climate impacts further complicate this picture.

Whether Mount Isa successfully navigates these changes will be critical to the success of Australia’s net zero ambitions, and global decarbonisation goals.

The Mount Isa Future Ready Economy Roadmap provides a clear and ambitious vision for the future of Mount Isa against this backdrop of regional change, global uncertainty, and new opportunities.

In this future, Mount Isa thrives. The regional economy enables Australia’s net zero transformation, contributing to the next generation of clean energy and critical minerals exports and processing . Local industry and the community lead innovative solutions to long-standing and emerging challenges, benefiting from a focus on circular economy approaches, decarbonisation, environmental sustainability and regeneration, and social wellbeing.

This vision is underpinned by the application of the Future Ready Economy Framework. This Framework has been designed by The Next Economy and Climate-KIC to assist decision-makers in regions like Mount Isa to assess economic opportunities against six key dimensions of positive and resilient development.

Along with regional stakeholder engagements and expert input, the Framework has informed the development of future ready development pathways, strategies and potential actions for Mount Isa’s five key economic sectors—energy, mining, transport, agriculture and tourism—and the foundations of a thriving community.

By adopting a future ready lens to regional economic development, Mount Isa is ensuring that today’s planning and investment decisions position the region for long-term success.

With the right planning and investment from key partners, including the Queensland Government and Australian Government, and industry, Mount Isa can pursue these pathways and become a global player in a decarbonising world.

To find out more, download the Mount Isa Future Ready Economy Roadmap.

*Mount Isa has a proud history of innovation and mining excellence which can continue to thrive with the right investment and collaboration between industry, government and the community.* Photo: Chris Grose.

Mount Isa launches economic roadmap to create jobs, secure future

[Press Release from Mount Isa City Council, shared with permission here]

Mount Isa, North West Queensland: Mount Isa City Council has launched the Mount Isa Future Ready Economy Roadmap, a bold new economic vision to transform and diversify the local economy while delivering immediate jobs and long-term benefits for its residents.

Despite a rich asset base, including the North West Minerals Provinces’ $680-billion in known in-ground resources, many of which are key for Australia’s clean energy and future-technology capabilities, Mount Isa faces significant challenges due to its remoteness and dependence on a major employer.

Up to 1,200 jobs losses loom as Glencore winds down underground copper operations at Mount Isa Mines from mid-2025. As one of the city’s largest employers, this threatens a sharp decline in the city’s current 19,000-strong population and its ability to remain the service centre for the North West.

The Mount Isa Future Ready Economy Roadmap presents 28 pathways and nearly 400 potential actions for local stakeholders, industry, government and community to strengthen and diversify the economy across energy, mining and minerals, transport, agriculture, and tourism.

Developed by Council with The Next Economy and Climate-KIC Australia, and with input from more than 100 industry, business, government and community contributors, the Roadmap also focuses on ways to support decarbonisation, climate adaptation, circular design, regenerative practices, and community well-being.

Key elements of the Roadmap include:

Supplying critical and strategic minerals the world needs to decarbonise, leveraging Mount Isa’s mining expertise and its gateway position to the North-West Minerals Province, rich in cobalt, graphite, vanadium, rare earth elements and important metals such as copper. Noting, retention of workforce capability and current industry assets is foundational to new industry development.
Producing and storing affordable, reliable renewable energy, particularly in innovative ways, with Council already working with Green Gravity and Glencore to explore repurposing legacy mining assets for gravitational energy storage systems.
Ensuring the timely completion of CopperString 2032 to connect Mount Isa to the national energy grid, unlocking opportunities for renewables, to decarbonise industries, and expand critical minerals mining and processing and other industries.
Improving transport and logistics infrastructure as a key enabler for industry and liveability, also to mitigate risks from extreme weather events like the recent floods. This includes common-user rail infrastructure, road upgrades, and innovative solutions such as airship freight which is already being explored.
Future-proofing and growing tourism and agriculture industries, with actions to build the resilience of local beef grazing operations as well as local multi-day tourism adventures to explore the region’s unique landscape and culture.
Improving social services and community infrastructure, including much-needed childcare facilities, affordable housing and specialist healthcare for residents and as the main service centre for the North West.

The Roadmap showcases Council’s existing commitment to economic development, such as the establishment of The Australian Critical Minerals Industrial Precinct, the Critical Minerals and Rare Earth Elements Research Centre with UQ, and a battery anode material facility for graphite production.

However, Mount Isa can’t do it alone. Council is calling on the Queensland and Australian governments to back Mount Isa’s future – and its significant contribution to the economy as Australia decarbonises – with multi-billion-dollar investment and tailored coordination and support.

Peta MacRae, Mount Isa Mayor, said: “The pending closure of Glencore’s underground operations is a huge loss for Mount Isa, but when one door closes, many more are opening to protect our workforce and build the industries, infrastructure and services we need for the future.

“We have a strong economic vision and plan. Council is already working with partners to unlock opportunities in new technologies and services. However, bold assistance from the state and federal governments is needed for Mount Isa to remain a great place to live, work and do business.”

Tim Rose, Mount Isa City Council CEO, said: “Mount Isa is very rich in critical minerals and rare earths, yet we face challenges with remoteness and huge costs for power and transport. It’s time to embrace new technologies to generate low-cost and clean power so our mining sector keeps running and we can keep the lights on in our communities.”

“With global uncertainty and the challenging nature of mining, Mount Isa offers an ideal location to de-risk and unlock the critical and rare earth minerals the world needs to decarbonise while adding value to our region. With the right investment and support, we can unlock further investment and keep punching above our weight for the national economy.”

Liz Webb, The Next Economy COO and project lead, said: “Business-as-usual economic development is no longer enough for historic mining regions like Mount Isa, grappling with major industrial upheaval taking a heavy toll on local workforces and economies.

“The Roadmap is the exact sort of initiative the Future Made in Australia bill is designed to support. New industry development is complex and takes time. Mount Isa is ready for this challenge, and will be successful with the right coordination, support and investment.

“The Roadmap showcases Mount Isa’s commitment to tackling urgent challenges in ways that secure long-term success. With a proud community, industry collaboration, and renowned innovation, Mount Isa is poised for a future ready economy that requires a new era of collaboration and investment from industry and government.”

Jason Nielsen, Climate-KIC Australia Director Strategic Projects and project lead, said: “A prosperous and sustainable future for Mount Isa depends on collaboration and coordination between companies, government, and the community. The speed and complexity of economic and social change make siloed efforts ineffective.

“It is critical that stakeholders see the interconnected and systemic nature of the problems and opportunities ahead, such as infrastructure development and workforce attraction and retention, and develop new ways of working together towards common goals. The Future Economy Roadmap is one of several important local initiatives to support and guide this process.”

Mount Isa’s Future Ready Economy Roadmap is available via Council’s website mountisa.qld.gov.au.

Mount Isa’s Future Ready Economy Roadmap: A stronger, more resilient future

Mount Isa in Queensland’s Gulf Country region is preparing for a critical decade with the development of its Future Ready Economy Roadmap.

Mount Isa is preparing for a critical decade with the development of its Future Ready Economy Roadmap. Stakeholders across government, industry, and the community have already contributed to shaping this crucial work, highlighting its significance to the region’s future. The Roadmap, set for release in February 2025, will outline simple and practical steps to diversify and decarbonise the local economy, build resilience, and improve social wellbeing.

The Roadmap is an initiative between the Mount Isa City Council, who commissioned and funded the project, and The Next Economy with support from Climate-KIC.

Mount Isa Mayor Peta MacRae said: “This initiative unites the voices of the community, industry, and government to create a strategy that addresses current challenges as well as harnesses new opportunities. As Mount Isa looks ahead, the Roadmap will serve as a vital guide, ensuring the region remains a vibrant, resilient place to live and work for years to come.”

A region facing increasing challenges and emerging opportunities

Climate-KIC’s Jason Nielsen with The Next Economy’s Reanna Willis and Kate Donnelly enjoying a Mount Isa sunset in-between workshops earlier this year.

Reanna Willis, senior project officer at The Next Economy, said: “Mount Isa is facing growing challenges, from mass job losses to regional connectivity to access to childcare and health services. It’s a critical time for the region to be exploring how to strengthen and diversify the region’s economy in ways that work for the community into the future.

“The people of Mount Isa get it. They know that, if this change is managed well, there will be more opportunities to improve the liveability, attractiveness and viability here. The region is well-positioned to capitalise on emerging opportunities including in critical minerals and renewables as well as strengthen existing industries like tourism. Realising this vision will require significant coordination, collaboration and strong investment from industry, government and the community.”

Council’s efforts towards economic diversification

Mount Isa City Council discuss priority areas where support is needed to build a stronger, more resilient future at a The Next Economy workshop in October 2024.

Mount Isa City Council is already taking proactive measures to drive economic diversification. Through detailed economic analysis, the Council has identified 60 stimulus projects designed to retain skilled workers and strengthen the local economy.

In October, in an Australian first, Council signed a memorandum of understanding with French-Canadian aeronautic company FLYING WHALES to establish a base for large capacity airships to transport heavy or bulky loads such as wind turbine parts. A technical feasibility study and business case is underway. (Read more in this ABC article)

Another notable initiative is the development of a Materials Recovery Facility (MRF), supported by $6.06 million from the Federal Government’s Building Better Regions Fund. Expected to be operational by 2025, the MRF will establish Mount Isa as a recycling hub for the North West.

Engaging with the community

A series of workshops with stakeholders across government, industry and community in 2024 will help shape the Roadmap.

In September, The Next Economy held a series of meetings to gather feedback from First Nations people and community service organisations, ensuring the Roadmap reflects the needs and aspirations of the entire community. The Next Economy hosted a further workshop in October with Council to develop pathways to attracting the right attention and support behind local opportunities and priorities.

Michelle Paulsen, Remote Operations Manager at Centacare North Queensland, was among those who participated in a series of community workshops earlier this year. She highlighted the importance of staying informed about the local economy’s changes and their impact on the community:

“From emergency relief to supporting families and children, the demand for Centacare’s services is being affected by changes in the local economy and resources industry. Staying informed, sharing what we are witnessing on the ground, and engaging in new ideas helps us better support Mount Isa families and individuals in need.

“The workshops were a valuable opportunity to contribute to Mount Isa’s growth and future. Expanding my understanding of circular economy opportunities has given me greater insight into new areas of economic growth. I encourage anyone who cares about Mount Isa’s future and wants to support our local community to get involved.”

Get in touch to find out more about the initiative