Hawke, McDonald and Willcox - Glencore bailout confirms Labor’s energy policy crisis

The Hon Alex Hawke MP

Shadow Minister for Industry and Innovation

Manager of Opposition Business in the House

Senator Susan McDonald

Shadow Minister for Resources Shadow Minister for Northern Australia

Andrew Willcox

Shadow Assistant Minister for Manufacturing and Sovereign Capability

JOINT MEDIA STATEMENT

8 October 2025

Glencore bailout confirms Labor’s energy policy crisis

The Albanese Labor Government has chosen to launch another corporate bailout because of the disastrous impact of their reckless energy policies.

The intervention to save the copper smelter follows other recent federal government interventions in Whyalla, Hobart and Port Pirie, with yet more costly bailouts expected in the short term.

Glencore has consistently pointed to Labor’s failed energy policies for collapsing Australian competitiveness.

Corporate bailouts are nothing more than hospital passes which paper over Labor’s failure to address their terrible trifecta of soaring energy prices, high taxes and rigid regulation.

Until the government gets the baseline economic settings right, taxpayers will be on the hook for more taxpayer-funded subsidies delivered through Labor’s opaque National Reconstruction Fund and so-called Future Made in Australia agenda.

Other major industrial facilities face similar challenges, notably Tomago in New South Wales, where union representatives have criticized Labor’s botched energy rollout.

Malicious state actors have also contributed materially to the systemic weakening of Australia’s industrial base through the manipulation of markets, among other outcomes.

Mount Isa and Townsville workers and their families have been left in limbo for too long, causing unacceptable anxiety and distress.

It is disappointing that pleas by the Coalition, particularly by Phil Thompson and Andrew Willcox, to expedite an outcome, fell on deaf ears.

The Coalition will continue to engage closely with our vital industry and resources sector, listening to concerns and working collaboratively to address policy challenges and opportunities.

ENDS