Rio Tinto Group is seeking a multi-billion-dollar government bailout for its Tomago aluminum smelter in Australia, the largest electricity consumer in the country, due to escalating energy costs. Discussions focus on the smelter's electricity contract for 2026-2029 and the federal government’s production tax credits.

Tomago, a Rio Tinto majority-owned smelter, consumes approximately 12% of New South Wales' power supply.

The smelter, Australia's largest aluminum producer at 590,000 tons annually, aims for over 50% renewable energy by 2030 and to eliminate fossil fuels by 2035.