The Albanese Labor Government has committed to building Australia’s future with a record A$2bn ($1.23bn) investment in the Australian-made aluminium industry.
This initiative aims to secure more well-paid jobs for Australian workers across regions and suburbs.
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Central to this effort is the introduction of a new Green Aluminium Production Credit, which will support Australian aluminium smelters transitioning to reliable, renewable electricity before 2036.
Under this credit, facilities will be eligible for support for every tonne of clean, reliable Australian-made aluminium produced over a period of ten years.
This initiative is designed to instil confidence in local aluminium smelters, encouraging them to invest and paving the way for more secure jobs within Australia’s world-class aluminium sector.
It not only promises economic benefits for Australia but also aims to significantly reduce emissions.
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By GlobalDataAustralia’s Prime Minister Anthony Albanese said: “Labor’s plan for a Future Made in Australia is very clear: we want Australia to make more things here. Investing in the Australian-made aluminium industry is a massive opportunity – to create well-paid jobs in our regions and suburbs, and set Australia up for the future.
“With abundant resources, including the best solar and wind capabilities, critical minerals, and a highly skilled workforce, Australia holds the potential to lead in the metals industry.”
Australia is currently claimed to be the sixth largest producer of aluminium globally, and the national government aims to sustain and grow this position.
Rio Tinto expressed its support for the Australian Government’s announcement, stating that the initiative will “help sustain and grow aluminium smelting in Australia, and significantly advance both regional communities and the nation’s manufacturing capabilities.”
Rio Tinto Australia chief executive Kellie Parker said: “The Australian Government’s commitment shows strong confidence in domestic manufacturing and the nation’s position in the global economy.
“As traditional energy sources for heavy industry become increasingly uncompetitive, today’s announcement is a critical piece in helping futureproof the industry. Such support is crucial for sustaining and growing regional economies.”
The Australian Aluminium Council also welcomed the decision terming it as a “significant step towards securing the future of Australia’s aluminium industry and strengthening Australia’s role as a leader in the energy transition.”
The council’s CEO Marghanita Johnson said: “Until now, we have seen many other countries take decisive action to support their domestic manufacturing industries while Australia has been less proactive in comparison.
“Today’s announcement is an important step in support of the industry’s transition to the competitive, reliable lower-carbon energy needed for the aluminium industry to secure a sustainable future.”
