Taxpayers may spend hundreds of millions of dollars keeping the Boyne aluminium smelter open until 2040 under a deal struck by Rio and the Queensland government.
Already a subscriber?Rio Tinto’s Boyne aluminium smelter would stay open until at least 2040 under a preliminary deal with the Queensland government, which could require taxpayers to spend hundreds of millions of dollars protecting 1000 jobs at the site.
The pact is also contingent on the federal government creating a “pathway for a decarbonised aluminium industry”; something that may emerge from the green metals consultation process that Industry Minister Ed Husic has started. Rio’s Australia chief Kellie Parker said the pact was one of the most significant deals struck by the company in Queensland, but it was not complete.“While this is a critical part of the puzzle, we have more to do. We will continue to engage with the federal government on supportive industry policy to help sustain Australia’s green aluminium sector for the future,” she said.
“We have actively engaged Rio Tinto as part of our ongoing green metals consultation process, designed to work with industry to secure Australia’s place as a low-cost, low-emission metals producer.”
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