Looks like us the Taxpayers got to bend over again ...
Albanese has announced the government will invest $2 billion to “supercharge” Australia’s aluminium industry.Rio Tinto’s massive Tomago aluminium smelter in NSW is reportedly close to collapse.
The facility, situated in Tomago about 13km west of Newcastle, employs some 1000 workers directly, but a stoppage would hit another 5000 indirect workers across the Hunter Valley.
Mining giant Rio Tinto holds a 51.6 per cent interest in the smelter, which produces about 590,000 tonnes of aluminium each year, or about 37 per cent of Australia’s total production.
Multiple reports suggest the company is in emergency talks with state and federal governments for a bailout.
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