Australia will provide AU$2.5bn (about US$1.76bn) to keep Rio Tinto's Tomago aluminium 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 decarboni

Australia will provide AU$2.5bn (about US$1.76bn) to keep Rio Tinto's Tomago aluminium 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.