Australia Announces $2 Billion Plan to Support Green Aluminium Production

The Albanese government aims to incentivize smelters to transition to renewable energy by 2036, with opposition criticism highlighting feasibility concerns.

• Prime Minister Anthony Albanese unveiled a $2 billion aluminium production credit scheme to support smelters transitioning to renewable energy by 2036.
• The program offers financial credits for every tonne of clean aluminium produced over the next decade, aiming to preserve 20,000 jobs and boost domestic manufacturing.
• The initiative is part of a broader $22.7 billion federal manufacturing program and is expected to increase annual aluminium-related GDP from $5.1 billion to $6 billion by 2050.
• Industry leaders, including Rio Tinto, praised the plan as critical for future-proofing Australia’s aluminium sector, while opposition leader Peter Dutton dismissed it as unrealistic and costly.
• The opposition advocates for nuclear energy as an alternative, criticizing the reliance on renewables and projecting significant infrastructure challenges for the proposed transition.

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