AUSTRALIA’S LARGEST ALUMINIUM SMELTER TO RUN ON RENEWABLES BY 2033 AFTER RIO TINTO STRIKES $2.5BN TAXPAYER BAILOUT DEAL

Rio Tinto and the federal and New South Wales governments have agreed on a $2.5 billion subsidy to secure renewable electricity for Australia’s largest aluminium smelter. The deal, announced Thursday at the Tomago plant by Prime Minister Anthony Albanese and NSW Premier Chris Minns, guarantees the smelter will run entirely on renewables by 2033.

Under the agreement, Rio Tinto will receive a 10‑year below‑market power‑supply guarantee that begins after the smelter’s existing coal‑focused contract with AGL expires in December 2028. The subsidy is intended to prevent a potential closure of the facility, which would have significant economic and employment impacts.

The Tomago smelter is the biggest aluminium producer in Australia, and its shift to renewable energy aligns with the country’s emissions‑reduction targets and global decarbonisation efforts.

• Rio Tinto secured a $2.5 billion subsidy from the federal and NSW governments.
• A 10‑year below‑market renewable power guarantee will take effect after December 2028.
• The smelter will operate entirely on renewable electricity by 2033.

Read the original source for full detail available at Environment | The Guardian src