Australia’s largest aluminium smelter to run on renewables by 2023 after Rio Tinto strikes $2.5bn taxpayer bailout deal
by Adam Morton from World news | The Guardian on (#77N79)
Rio Tinto makes power supply deal with federal and NSW government to cut emissions and decarbonise, preventing potential closure
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Resources giant Rio Tinto says Australia's largest aluminium smelter will run entirely on renewable energy by 2033 after it struck a $2.5bn subsidy deal with the federal and New South Wales governments to prevent a potential closure.
The deal - announced by Anthony Albanese and the NSW premier, Chris Minns, at the Tomago smelter near Newcastle on Thursday - is for a 10-year below-market power supply guarantee that begins after the facility's existing coal-focused electricity contract with AGL ends in December 2028.
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