MELBOURNE, Australia–(BUSINESS WIRE)–Rio Tinto welcomes the Australian Authorities’s announcement of an aluminium manufacturing credit score to assist maintain and develop aluminium smelting in Australia, and considerably advance each regional communities and the nation’s manufacturing capabilities.
The manufacturing credit score, introduced right now as a part of the Future Made in Australia Plan, places Australia on a path to changing into a pacesetter in inexperienced metals manufacturing, whereas supporting a continued robust financial future for communities which have powered the nation’s aluminium business for generations.
It is going to present focused assist to Australian aluminium smelters transitioning to dependable, renewable electrical energy earlier than 2036. Underneath the initiative, amenities will likely be eligible for assist for his or her manufacturing over a 10-year interval. The credit score goals to present native aluminium smelters the boldness to speculate, securing Australian jobs and strengthening the nation’s world-class aluminium business.
The assist comes at a pivotal time for Australia’s aluminium sector, as main producers and infrastructure builders worldwide more and more search provide of low-carbon materials, driving rising demand for sustainably produced merchandise.
Rio Tinto (NYSE:) Chief Govt, Australia, Kellie Parker mentioned: The Australian Authorities’s dedication exhibits robust confidence in home manufacturing and the nation’s place within the world economic system. As conventional power sources for heavy business develop into more and more uncompetitive, right now’s announcement is a vital piece in serving to future-proof the business. Such assist is essential for sustaining and rising regional economies.
“As global industrial customers and consumers increasingly focus on low-carbon products, this support signals Australia’s potential to be a major supplier of the aluminium needed for the global energy transition, creating a foundation for local businesses and manufacturing to thrive.”
The announcement builds on Rio Tinto’s partnership with the Queensland Authorities, introduced in August 2024, to assist Boyne Smelters Ltd’s (BSL’s) transition to renewable power, in addition to Rio Tinto’s robust progress in securing renewable energy to offer competitively priced electrical energy for its aluminium operations. This consists of signing Australia’s largest renewable energy buy settlement in early 2024 to produce its Gladstone aluminium operations, whereby Rio Tinto will buy nearly all of electrical energy from Windlab’s deliberate 1.4GW Bungaban wind power mission, and an earlier settlement with European Power to drive improvement of the 1.1GW Higher Calliope photo voltaic farm. These tasks will make Rio Tinto the largest industrial purchaser of renewable energy in Australia.
Rio Tinto’s built-in aluminium manufacturing chain in Queensland is a major financial driver, using over 4500 individuals instantly and supporting hundreds extra Australian livelihoods. The corporate’s operations in Gladstone alone account for greater than 3000 jobs, with 1000 of these at BSL. Moreover, Rio Tinto’s bauxite operations in Weipa make use of greater than 1300 individuals, supplying uncooked supplies to the Gladstone manufacturing amenities.
Rio Tinto additionally welcomes the announcement as a 51.55% proprietor of Tomago Aluminium Firm and appears ahead to working with the New South Wales Authorities to assist safe the way forward for that operation. Tomago, within the Hunter Valley, is Australia’s largest aluminium smelter, and instantly helps greater than 1200 full-time jobs.
View supply model on businesswire.com: https://www.businesswire.com/information/house/20250118099373/en/
Please direct all enquiries to media.enquiries@riotinto.com
Media Relations,
Australia
Michelle Lee
M +61 458 609 322
Rachel Pupazzoni
M +61 438 875 469
riotinto.com
Class: BSL
Supply: Rio Tinto
