The Australian and Queensland governments announced a A$2 billion support package to ensure the continued operation of Rio Tinto’s Boyne Smelters. This ten-year funding deal secures aluminum production through at least 2040, extending beyond the 2029 expiration of current power contracts.

Federal Industry Minister Tim Ayres said that this commitment will bring nearly A$7.5 billion in additional state investments. The initiative helps the facility transition to solar and wind power, countering high fossil fuel costs and reducing carbon emissions.

As part of this green transition, Rio Tinto agreed to purchase 40% of the output from Lightsource bp’s Lower Wonga solar and battery project.

This agreement stabilizes a vital processing hub currently facing significant energy and labor cost pressures.