In a bold move aimed at revitalizing Australia’s manufacturing sector, the Federal Labor government is set to unveil a multi-billion-dollar initiative to support a new “green aluminium” industry. Prime Minister Anthony Albanese will announce this initiative on Monday during a visit to the Tomago Aluminium smelter in the politically significant Hunter region of New South Wales.
The proposed production credits will incentivize aluminium producers by compensating them for every tonne of “green aluminium” they manufacture. This initiative aligns with Labor’s existing policies promoting solar energy, green hydrogen, and critical minerals, reinforcing the government’s commitment to sustainable manufacturing practices.
To achieve the production of “green” aluminium, smelters like Tomago will be required to utilize only renewable energy sources throughout the aluminium production process. While Tomago had initially set a goal to transition to fully renewable power by the end of the decade, recent statements from the company suggest uncertainty surrounding that timeline.
Prime Minister Albanese emphasized the importance of these production credits, stating, “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. We’ve got the resources, the workers, and the know-how—the only thing we don’t have is time to waste.”
This initiative not only aims to bolster the local economy but also positions Australia as a leader in sustainable manufacturing, marking a significant step towards a greener future.
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