Australian Governments Provide A$2.5 Billion Aid to Rio Tinto-Backed Smelter

Australian federal and state governments have committed A$2.5 billion (US$1.8 billion) to the Tomago aluminum smelter, co-owned by Rio Tinto Group. This financial support aims to sustain the energy-intensive plant amid high energy costs. In return, Tomago Aluminium will invest A$1.1 billion and reduce power consumption during peak demand.