A mining giant has been told to step up after a $600 million taxpayer-funded bailout saved its ailing copper facilities and hundreds of jobs.

The prime minister is urging Glencore to back a key Australian mining community after receiving the three-year financial lifeline and avoiding a "catastrophic" shutdown.

The Swiss mining company will get the cash injection after threatening to shut its loss-making Mount Isa copper smelter and Townsville copper refinery in Queensland.

The joint federal and state deal would keep the doors open, give a shot in the arm to Australia's position as a key global copper supplier and aid the nation's transition to clean energy, Anthony Albanese said on Wednesday.

But he added Glencore must repay the support and look after the outback community of Mount Isa

See Full Page