Massive bailout for Australia’s largest aluminium smelter expected to be announced by PM and NSW premier
Covered by 9 sources
- The Conversation AU·2h agoWhy the $2.5 billion Tomago aluminium deal is no ordinary bailout
On Thursday, the federal and New South Wales governments jointly announced a deal to bail out the Tomago aluminium smelter, at a cost of A$2.5 billion over ten years. The smelter is Australia’s largest single user of electricity. Its majority owner, mining giant Rio Tinto, had…
Read at The Conversation AU → - Guardian Australia·2h agoAustralia’s largest aluminium smelter to run on renewables by 2033 after Rio Tinto strikes $2.5bn taxpayer bailout deal
Rio Tinto makes power supply deal with federal and NSW government to cut emissions and decarbonise, preventing potential closure Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Resources giant Rio Tinto says…
Read at Guardian Australia → - Bloomberg Markets·10h agoRio Tinto Aluminum Smelter Receives $1.8 Billion Bailout
The owners of Australia’s biggest aluminum smelter, including Rio Tinto Group, secured a government bailout of A$2.5 billion ($1.8 billion) to keep the plant operating as they grapple with high energy costs.
Read at Bloomberg Markets → - Daily Mail News·10h agoAustralia's largest aluminium smelter wins $2.5billion lifeline from taxpayer fund
The smelter is the single largest electricity user in the nation and consumes about 10 per cent of the state's power supply.
Read at Daily Mail News → - The West Australian·13h ago'Win for working class': smelter saved in bailout
The bailout of Australia's largest aluminium smelter has saved thousands of jobs, with union officials calling the move a win for the working class.
Read at The West Australian → - ABC News AU·18h ago$2.5b Tomago Bailout in the 'national interest', says PM
A 10-year funding deal will see $2.5 billion in taxpayer money spent to keep Australia's largest aluminium smelter open.
Read at ABC News AU → - Financial Post·1d agoRio Tinto Aluminum Smelter to Get Australian Government Bailout
The owners of Australia’s biggest aluminum smelter, including Rio Tinto Group, are set to receive a government bailout to keep the plant operating as it grapples with high energy costs, according to people familiar with the matter.
Read at Financial Post → - ABC Just In AU·1d agoAustralia's largest aluminium smelter expected to get emergency bailout
The prime minister and NSW premier are expected to announce a bailout for the country's largest aluminium smelter tomorrow.
Read at ABC Just In AU → - Guardian World·1d agoMassive bailout for Australia’s largest aluminium smelter expected to be announced by PM and NSW premier
Rio Tinto said in December it may cease operations at the Tomago aluminium smelter at the end of its current electricity supply contract Anthony Albanese and the New South Wales premier, Chris Minns, are preparing to mount a major bailout of Australia’s largest aluminium…
Read at Guardian World →
