Australia’s largest aluminium smelter to run on renewables by 2023 after Rio Tinto strikes $2.5bn taxpayer bailout deal

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Rio Tinto has signed a $2.5 billion power supply deal with the Australian federal and New South Wales governments to run the country's largest aluminium smelter entirely on renewable energy by 2033. This agreement, including a 10-year below-market power contract post-2028, will prevent the potential closure of the Tomago smelter.

Rio Tinto makes power supply deal with federal and NSW government to cut emissions and decarbonise, preventing potential closure Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Resources giant Rio Tinto says Australia’s largest aluminium smelter will run entirely on renewable energy by 2033 after it struck a $2.5bn subsidy deal with the federal and New South Wales governments to prevent a potential closure. The deal – announced by Anthony Albanese and the NSW premier, Chris Minns, at the Tomago smelter near Newcastle on Thursday – is for a 10-year below-market power supply guarantee that begins after the facility’s existing coal-focused electricity contract with AGL ends in December 2028. Continue reading...