US EditionPM reveals rescue deal for power-hungry Tomago smelter
- On Friday, Prime Minister Anthony Albanese announced a multibillion-dollar deal to keep Tomago Aluminium open beyond 2028, telling about 100 workers `I've got a simple message to the workers here today, and that is we have got your back`.
- Tomago Aluminium conceded it faced closure as its power contract ends in 2028, with energy costs making up 40 per cent of expenses and the plant requiring about 12 per cent of NSW's power over the past month.
- Minister Tim Ayres described the long-term power purchasing agreement being finalised to underwrite generation, storage and transmission, potentially routing power via Commonwealth-owned Snowy Hydro.
- Industry leaders welcomed the announcement, with Jérôme Dozol, Tomago Aluminium chief executive, thanking governments for this milestone, while Marghanita Johnson and Alice Thompson praised collaboration and Minister Ayres' leadership.
- Details will be finalised in the coming months and a formal agreement is expected in the new year; if taxpayer-funded, the scheme financial vehicle would mark Prime Minister Anthony Albanese's fourth metals-processor intervention this year.
30 Articles
30 Articles
PM backs Tomago smelter rescue to secure 1,000 jobs
The Federal Government has announced a rescue package for Australia's biggest aluminium smelter, securing a future for more than 1000 jobs at Tomago, in New South Wales. But the Prime Minister today wouldn't be drawn on the costs of the taxpayer- funded bailout, which will deliver cheap energy to one of the biggest power users in the nation.
More than 1000 jobs saved after government strikes deal to sustain largest aluminium smelter
More than 1000 jobs have been saved at Australia's biggest aluminium smelter after the government stepped in with a deal that would allow the plant to remain open beyond 2028.Rio Tinto warned that closure was all but guaranteed for its Tomago smelter in the NSW Hunter Region when its coal power contract ends in 2028, due to soaring energy costs.Prime Minister Anthony Albanese announced the federal and NSW governments have struck a deal with th…
Government reveals taxpayer-funded deal to keep Australia’s largest aluminium smelter open. How long we will pay?
It seemed inevitable – politically at least – that the federal government would step in to save Tomago Aluminium in New South Wales, Australia’s largest aluminium smelter. Rio Tinto, the owners of Tomago, has enjoyed attractively priced electricity for a long time, most recently with AGL. But this contract ends in 2028. Unable to find a replacement at a price it could accept, Rio Tinto warned that Tomago was facing closure. Tomago produces more …
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