Rio Tinto Reached Agreement to Secure Long-Term Future for Aluminum Smelter

SEATTLE (Scrap Monster): Rio Tinto has reached an agreement with Queensland government to secure the long term future for Boyne Smelters Limited (BSL) – the second largest aluminum smelter in the country. This will save thousands of jobs supported by the operations.

The investment will be made in renewable energy projects in Queensland’s heavy industrial manufacturing base around Gladstone, in line with the state’s previously state vision to establish Gladstone as a renewable energy hub. Also, the agreement is complementary to the Australian government’s Future Made in Australia Plan, aimed at promoting a decarbonised aluminum industry.

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Under the terms of the agreement, the Queensland Government will support BSL’s financial viability from 2029 as the smelter transitions to renewable energy. In addition to investing in maintaining BSL's full operational capacity, Rio Tinto plans expansion of its coastal shipping capacity, by way of addition of a fifth domestically crewed vessel to its existing fleet. Further, the company will make additional sustainable energy investments in Queensland, the company press release noted.

Kellie Parker, Chief Executive Australia, Rio Tinto stated that the agreement represents one of the most significant partnerships in its long history of operations in the State.