Australian government funds Rio Tinto aluminum smelter bailout.

A $2 billion government bailout, equally split between federal and Queensland authorities, will support Rio Tinto’s Boyne aluminium smelter in Gladstone, preserving 1,000 direct jobs and 2,000 indirect positions. In exchange, Rio Tinto has committed to investing $7.5 billion in new renewable energy projects across Queensland, aiming to stabilize manufacturing while advancing clean energy infrastructure.