Overview
- The federal government announced a rescue effort and said a long‑term, fixed‑price energy supply is being finalised to keep the smelter operating past the end of its 2028 contract.
- Canberra and New South Wales will underwrite new renewable generation, storage and transmission and provide concessional finance to accelerate these projects.
- Tomago has committed at least A$1 billion over the next decade for capital and major maintenance, including work to identify decarbonisation opportunities.
- Officials framed the move as securing more than 1,000 jobs at a facility that produces roughly 40% of Australia’s aluminium and is the state’s largest electricity user.
- Ministers have not disclosed the commercial terms or total taxpayer exposure, with a final agreement targeted for the new year.