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Australia saves 1,000 jobs at Tomago smelter with government-backed cheap power deal.
More than 1,000 jobs at Australia’s Tomago aluminium smelter are secured after the federal government intervened with taxpayer-backed support to provide cheaper power, preventing a shutdown due to high energy costs.
The smelter, which produces over a third of the nation’s aluminium and consumes about 10% of New South Wales’ electricity, will receive subsidized power through a deal involving federal and state government funding, with investments in renewable energy, storage, and transmission infrastructure.
The agreement, still being finalized, follows similar government actions to stabilize other smelters, including copper and lead-zinc operations, with funds also supporting critical minerals production.
Industry leaders and unions praised the decision as vital for national manufacturing.
The total cost remains undetermined.
Australia salva 1.000 empleos en la fundición de Tomago con un acuerdo de energía barata respaldado por el gobierno.