Australia, home to over 10% of the world’s copper reserves, is experiencing a decline in its domestic copper refining capacity, particularly in smelting. Despite having significant mineral resources, the country relies heavily on exports to China, Japan, and South Korea for processing. Recent reports highlight that Australia's copper production in 2024 was around 800,000 tonnes, with only 460,000 tonnes refined domestically, revealing an imbalance in its value chain. The narrowing of smelting capacity, exemplified by pressures on Glencore’s Mount Isa smelter, underscores the urgent need to address this bottleneck as global demand for copper surges due to electrification and green technologies.