Aluminium producers have access to a $2 billion fund to switch to renewable electricity before 2036.
Prime Minster Anthony Albanese said the new Green Aluminium Production Credit would provide targeted support to Australian aluminium smelters.
Prime Minister Albanese said facilities would be eligible for support for every tonne of clean Australian-made aluminium made over a 10-year period.
He said the credit would provide local aluminium smelters with confidence to invest, paving the way for more secure jobs in the industry.
“We’ve got all the ingredients right here for a world-leading metals industry – from the best solar and wind resources, to the critical minerals and facilities, as well as a highly skilled workforce.
“From Gladstone to Portland and Bell Bay to Tomago – Australia is already the sixth largest producer of aluminium in the world and we want to see that continue to grow.”
Prime Minister Albanese said increasingly the world was looking to import clean metals, like Australian-made aluminium, which represented a massive opportunity for growth in a decarbonising global economy.
He said Australia’s entire aluminium supply chain was uniquely located on shore, from bauxite mining to finished products.
“Not only will this deliver for economic wins for Australia, it will help significantly reduce emissions at the same time.
“Investing in the Australian-made aluminium industry is a massive opportunity – to create well-paid jobs in our regions and suburbs, and set Australia up for the future.”
