- Albanese and Crisafulli Governments have secured the future of Phosphate Hill and thousands of jobs across North and North West Queensland.
- New loan facility for Phosphate Hill also protects Mount Isa Copper Smelter and Townsville Refinery, and the thousands of jobs they support.
- Deal is a major boost to sovereign capability, as Phosphate Hill is Australia’s only ammonium fertiliser producer, needed for dozens of domestic industries.
The Albanese and Crisafulli Governments will provide a jointly funded $160 million loan facility to lock-in the ongoing operations of the Phosphate Hill fertiliser facility for the future of North West industries and jobs.
The agreement will secure more than 500 direct jobs at Phosphate Hill, 600 direct jobs at the Mount Isa Copper Facility and Townsville Refinery, as well as thousands of indirect jobs across the North and North West of Queensland.
The deal follows the Phosphate Hill sale to Mayfair, and protects the Mount Isa Copper Smelter and Townsville Refinery.
Phosphate Hill is Australia’s only domestic ammonium fertiliser producer, and is critical to the ongoing operations of the Mount Isa Copper Smelter and Townsville refinery.
The loan will be used to support the modernisation of the facility, and the package also includes additional targeted support to help the facility manage sulphur costs that have surged because of conflict in the Middle East.
The joint support package for the sale will allow Mayfair to prioritise the cyclical demand of Australian agricultural producers, and provide certainty to the workers, local communities and businesses that rely on Phosphate Hill’s operations.
The Albanese and Crisafulli Governments have worked closely with Dyno Nobel and Mayfair to assist in facilitating the transaction and both Governments remain in lockstep to support operations that are important to Queensland and Australia’s sovereign capability.
This includes joint funding arrangements for the Mount Isa Copper Smelter and Townsville Refinery, and the Boyne Smelter at Gladstone.
Federal Minister for Industry and Innovation and Minister for Science Tim Ayres said Phosphate Hill was a critical national asset as Australia’s only fertiliser producer, and central to North West Queensland’s interconnected industrial system.
“Time and again, the Queensland Government has been right alongside the Commonwealth delivering for heavy industry, regional Australia and blue-collar jobs,” Minister Ayres said.
“The conflict in the Middle East has spiked sulphur costs dramatically, and our two Governments have worked closely with Dyno Nobel and Mayfair to ensure this sale proceeds and that they can prioritise the long-term viability of this facility and its 500 workers.
“We expect the new owners to deliver on their commitments to the two governments, invest in the future of the facility and deliver a Future Made in Australia.”
Queensland Minister for Natural Resources and Mines Dale Last said this was a support package to protect thousands of jobs in Cloncurry and across North West Queensland.
“The Phosphate Hill facility is a key piece of Queensland infrastructure, and its ongoing operation is linked to the Mount Isa Copper Smelter and Townsville Refinery,” Minister Last said.
“Importantly, funding support for the sale secures the future for tens of thousands of workers across the North West and local communities, and shores up fertilizer supply for Australian farmers.
“We’re committed to delivering a better lifestyle through a stronger economy and our resources sector, including Phosphate Hill, Mount Isa Copper Smelter, Townsville Refinery and Boyne Smelter, are all a critical part of Queensland’s economy.
“We have made our expectations around the ongoing operations of the facility, and employment of workers, clear to the new operator and expect them to deliver on the principles that underpin the funding arrangements.”
