Rio Tinto in Bailout Talks for Australian Aluminium Smelter, AFR Reports

Rio Tinto in bailout talks for Australian aluminium smelter, AFR reports

SYDNEY (Reuters) -Global miner Rio Tinto is in talks with Australian federal and state governments about a multibillion-dollar bailout for its struggling Tomago aluminium smelter in New South Wales state, the Australian Financial Review reported. The newspaper, citing sources it did not name, reported late on Friday that talks centred on the smelter’s electricity contract for 2026 to 2029 and federal production tax credits. Rio and the offices o…

Rio Tinto Eyes Bailout for Australian Aluminum Smelter, AFR Says

(Bloomberg) — Rio Tinto Group is seeking a multibillion-dollar government bailout for its Tomago aluminum smelter — Australia’s largest electricity user — due to spiraling energy costs, the Australian Financial Review reported.

Rio pushes for ‘eye-watering’ Tomago bailout

Australia’s largest electricity user is seeking billions in direct government support to cover spiralling power costs.

Rio Tinto in bailout talks for Australian aluminium smelter, AFR reports - Regional Media News

SYDNEY (Reuters) -Global miner Rio Tinto is in talks with Australian federal and state governments about a multibillion-dollar bailout for its struggling Tomago aluminium smelter in New South Wales state, the Australian Financial Review reported. The newspaper, citing sources it did not name, reported late on Friday that talks centred on the smelter’s electricity contract for 2026 to 2029 and federal production tax credits. Rio and the offices o…