Australia prepares $2.5 billion bailout for Tomago aluminium smelter
The federal and New South Wales governments are set to unveil a A$2.5 billion bailout for Tomago Aluminium, Australia's largest aluminium smelter, in the Hunter region of New South Wales. The package is being framed as a 10-year transformation plan for the plant, which has been under pressure from rising energy costs. Industry Minister Tim Ayres said the deal will support new electricity generation and help secure the smelter's future.Under the arrangement, the operators of Tomago Aluminium have agreed to invest A$100 million in decarbonisation measures and a demand-response programme. Ayres said the deal would inject three gigawatts of new... [Continue Reading]
360LiveNews | 12 Aug 2026 22:36 LONDON
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