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20.01.2025 02:02:43
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Rio Tinto Welcomes Australian Government's Aluminium Production Credit Announcement
(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) expressed its support for the Australian Government's recent announcement of an aluminium production credit. This initiative is aimed at sustaining and expanding aluminium smelting operations in Australia, thereby significantly benefitting regional communities and enhancing the nation's manufacturing capabilities.
The company noted that the production credit, announced today as part of the Future Made in Australia Plan, puts Australia on a path to becoming a leader in green metals manufacturing, while supporting a continued strong economic future for communities that have powered the nation's aluminium industry for generations.
It will provide targeted support to Australian aluminium smelters transitioning to reliable, renewable electricity before 2036. Under the initiative, facilities will be eligible for support for their production over a 10-year period. The credit aims to give local aluminium smelters the confidence to invest, securing Australian jobs and strengthening the nation's world-class aluminium industry.
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