Tomago Smelter Saved by Energy Deal | Australia News

Australia’s biggest aluminum smelter, Tomago in the Hunter region, is saved from closure thanks to a $2.5 billion joint rescue package from NSW and federal governments, plus $1.1 billion from the company itself to upgrade and decarbonize operations. Facing energy costs that eat up 40% of its budget and soaring contract prices expected to double by 2029, the plant now secures long-term renewable energy deals starting in 2029. Union leaders hail it as a win for workers and manufacturing, fulfilling a promise made by the Prime Minister. While exact taxpayer returns remain confidential, officials say it’s vital for national interest — part of a broader trend supporting key industrial sites across the country. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/723d364e27eb0740