Aluminium smelter's future secured in $200m lifeline

The Australian government has provided a $200 million support package to secure a five-year power deal for Bell Bay Aluminium, owned by Rio Tinto. This ensures the smelter's operations and 550 direct jobs, plus 1,000 indirect jobs, for the next five years. The deal resolves a dispute over electricity prices between Rio Tinto and Hydro Tasmania. According to officials, the funding supports local jobs, aluminium production, and national sovereignty.

Tasmania's Bell Bay Aluminium smelter, owned by Rio Tinto, secured a $200 million joint government support package to keep 550 jobs and support 1,000 more indirectly. The five-year deal includes a power agreement with Hydro Tasmania, aiming to inject $5 billion into the local economy. The smelter produces 190,000 tonnes of aluminium annually, mostly for export.

Rio Tinto has extended its operations at the Bell Bay aluminium smelter until 2031. The agreement ensures continued production at the site, which is significant for the company's aluminium business and investors.

The Australian and Tasmanian governments have jointly committed $200 million to support the Bell Bay Aluminium smelter, owned by Rio Tinto. The funding follows a new five-year power deal between Rio Tinto and Hydro Tasmania. The smelter employs 550 people and faced closure risks due to power pricing disputes and industry pressures. The governments aim to secure jobs and local manufacturing.

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