Australia will provide AU$2.5bn (about US$1.76bn) to keep Rio Tinto's Tomago
aluminum smelter running after 2028 and to secure cheaper, more reliable power.
The package, funded by the federal government and New South Wales, includes
provision for an additional 3 GW of generation capacity. Rio Tinto warned in
October the smelter could close if it could not obtain commercially viable power
post-2028. Under the agreement Tomago will invest at least AU$1.1bn, including
AU$100m for further decarbonisation.
