Mining Firms Hurt by ‘Ridiculously High’ Energy Prices in Australia Mull Renewables

By [email protected] Mining giant Glencore is putting Australia’s grid problems under the spotlight — prompting other businesses to threaten plant closures and explore renewable energy procurement.

Aristotelis Mistakidis, the director of Glencore’s copper business, last month wrote to state and federal lawmakers in Australia complaining about a 100 percent hike in power prices over the last three years.

Glencore may close copper mining operations at one of its subsidiaries, Mount Isa Mines, because of energy costs. Up to 2,000 jobs could be affected.

“We are beyond the tipping point in terms of industrial demand destruction,” Peter Freyberg, head of global coal assets at Glencore,

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