Australia’s largest aluminium smelter to run on renewables by 2023 after Rio Tinto strikes $2.5bn taxpayer bailout deal

The Guardian reports Rio Tinto has secured a two point five billion dollar subsidy from federal and New South Wales governments to keep Australia's largest aluminium smelter operating. The Tomago facility, near Newcastle, will transition to running entirely on renewable energy by twenty thirty-three, after its current coal-powered electricity contract with AGL ends in December twenty twenty-eight. The deal, announced this week, is a ten-year below-market power supply guarantee designed to prevent the smelter's potential closure and help decarbonize one of Australia's most energy-intensive industries.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton