On January 19, 2025, the Australian Government announced an aluminium production credit aimed at sustaining and expanding aluminium smelting operations across the country. This initiative, part of the Future Made in Australia Plan, positions Australia to lead in green metals manufacturing while bolstering the local economy.
The production credit will support Australian aluminium smelters transitioning to renewable energy by 2036. Eligible facilities will receive assistance over a ten-year period, encouraging investment and securing jobs in the aluminium sector.
Rio Tinto's Chief Executive for Australia, Kellie Parker, expressed that the government’s commitment reflects confidence in domestic manufacturing and Australia’s role in the global economy. The initiative is seen as vital for adapting to the growing demand for low-carbon materials from international manufacturers.
This announcement follows Rio Tinto's partnership with the Queensland Government to assist Boyne Smelters Ltd in its transition to renewable energy. The company has also secured significant renewable power agreements, positioning itself as the largest industrial buyer of renewable energy in Australia.
Rio Tinto's operations in Queensland are critical for the local economy, directly employing over 4,500 individuals and supporting thousands more. The Gladstone aluminium operations alone account for more than 3,000 jobs, while the bauxite operations in Weipa provide essential raw materials.
Additionally, as a major stakeholder in Tomago Aluminium Company, Rio Tinto looks forward to collaborating with the New South Wales Government to ensure the future of Australia's largest aluminium smelter, which supports over 1,200 full-time positions.