Rio Tinto and its partners have secured A$2.5 billion in federal and state funding to keep Australia's largest aluminum smelter operating, as soaring electricity costs, over 40% of operating expenses, threaten its future.
The deal requires A$1.1 billion in new investment, grid-flexibility upgrades to cut power use during peak demand, and A$100 million for emissions-reduction measures.
Prime Minister Anthony Albanese pledged support last December after Rio warned of closure when the current power contract ends later this decade.
Rio Tinto aluminum smelter wins A$2.5 billion government bailout
13 Aug 2026 14:40 reported by Yolanda Wang
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