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    Home > Headlines > Rio Tinto in bailout talks for Australian aluminium smelter, AFR reports
    Headlines

    Rio Tinto in bailout talks for Australian aluminium smelter, AFR reports

    Published by Global Banking & Finance Review®

    Posted on June 7, 2025

    2 min read

    Last updated: January 23, 2026

    Rio Tinto in bailout talks for Australian aluminium smelter, AFR reports - Headlines news and analysis from Global Banking & Finance Review
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    Tags:aluminium sectorGovernment fundingsustainabilityfinancial crisis

    Quick Summary

    Rio Tinto is in bailout talks for its Tomago aluminium smelter in Australia, focusing on electricity contracts and tax credits amid high energy costs.

    Rio Tinto Negotiates Multibillion-Dollar Bailout for Aluminium Smelter

    SYDNEY (Reuters) -Global miner Rio Tinto is in talks with Australian federal and state governments about a multibillion-dollar bailout for its struggling Tomago aluminium smelter in New South Wales state, the Australian Financial Review reported.

    The newspaper, citing sources it did not name, reported late on Friday that talks centred on the smelter's electricity contract for 2026 to 2029 and federal production tax credits.

    Rio and the offices of New South Wales Premier Chris Minns and Prime Minister Anthony Albanese did not immediately respond to Reuters requests for comment on the report.

    The future of the facility, majority owned by Rio, has been uncertain for months due in part to spiralling energy costs, according to the report.

    In February, Rio, the world's largest iron ore producer, said it would decide the smelter's future by mid-year.

    The facility about 125 km (80 miles) north of state capital Sydney uses around 10% of New South Wales' power supply to produce 590,000 tonnes of aluminium per year. In addition to Rio, it is owned by CSR and Hydro Aluminium.

    Australia's centre-left government in January pledged A$2 billion in production credits to help support the country's four aluminium smelters, including the Tomago facility, switch to renewable power before 2036.

    (Reporting by Sam McKeith in Sydney; Editing by William Mallard)

    Key Takeaways

    • •Rio Tinto is negotiating a bailout for its Tomago smelter.
    • •Talks involve Australian federal and state governments.
    • •The smelter's future is uncertain due to energy costs.
    • •Rio Tinto to decide on the smelter's future by mid-year.
    • •Australia pledges support for renewable power transition.

    Frequently Asked Questions about Rio Tinto in bailout talks for Australian aluminium smelter, AFR reports

    1What is Rio Tinto negotiating regarding its aluminium smelter?

    Rio Tinto is in talks with Australian federal and state governments about a multibillion-dollar bailout for its Tomago aluminium smelter.

    2What factors have contributed to the uncertainty of the Tomago smelter's future?

    The future of the Tomago smelter has been uncertain due to spiralling energy costs and the need to renegotiate its electricity contract.

    3What support has the Australian government pledged for aluminium smelters?

    In January, Australia's government pledged A$2 billion in production credits to help support the country's aluminium smelters, including Tomago, in switching to renewable power.

    4How much aluminium does the Tomago smelter produce annually?

    The Tomago smelter produces approximately 590,000 tonnes of aluminium per year.

    5When is Rio Tinto expected to decide on the future of the smelter?

    Rio Tinto indicated that it would decide on the future of the smelter by mid-year.

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