Australian government reports or company disclosures

Australia's $2 Billion Green Push: Albanese Announces $1.2 Billion for Aluminum Industry

Jan 20, 2025, 01:00 AM

Australia's government, led by Prime Minister Anthony Albanese, has announced a $2 billion initiative to support the transition of the country's aluminum industry to renewable energy sources. The program, spanning 10 years, will offer a $1.2 billion production credit to aluminum smelters for every tonne of aluminum produced using renewable power. This move aims to reduce emissions and enhance the competitiveness of the domestic industry. The initiative targets three major producers: Rio Tinto, Tomago Aluminium, and Alcoa, and is part of broader efforts to bolster Australia's green supply chain capabilities.