Prime Minister Anthony Albanese was in Tomago on Monday to unveil a green aluminium production credit scheme that will provide financial support to smelters changing their energy source before 2036.

Advertise with News of The Area today.
It’s worth it for your business.
Message us.
Phone us – (02) 4981 8882.
Email us – media@newsofthearea.com.au

As part of the $2 billion program, facilities will be eligible for support for every tonne of clean, Australian aluminium they make over a decade.

The production credits form part of the federal government’s signature manufacturing program, set to cost $22.7 billion.

Mr Albanese said the production credits for aluminium would allow for more products to be manufactured locally.

“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,” he said.

“We’ve got the resources, the workers, and the know-how – the only thing we don’t have is time to waste. We are building Australia’s future, not taking Australia backwards.”

Its estimated revenue to GDP for the Australian aluminium industry will increase from $5.1 billion per year to $6 billion annually by 2050.

Australia is the sixth-largest producer of aluminium globally.

Industry Minister Ed Husic said the production credit scheme would help to boost aluminium jobs while also reducing emissions.

“With an entire aluminium supply chain uniquely located right here in Australia, we’re well positioned to capture the rewards of the global green energy transition,” he said.

“Communities and businesses rely on aluminium smelters, and we have an opportunity to partner with the private sector to support these secure well-paying jobs into the future.”

Australian Aluminium Council chief executive Marghanita Johnson said the industry would be able to transition to renewable energy to make the sector sustainable for coming years.

“The natural advantages of our mineral reserves, renewable energy resources, and highly skilled workforce can give us a competitive edge, but only if supported by the right policy framework, over the right timeframe,” she said.

“The announcement of $2 billion in production credits for the sector represents a substantial step forward in the journey for Australia to position itself as a leader in the global aluminium market.”

Following the announcement, NSW Nationals Senator Ross Cadell said Labor’s all-renewable approach to energy will “decimate Australian industry, and drive aluminium production offshore”.

“For Albo to be turning up with $2 billion of taxpayer funds for the aluminium industry tells us everything there is to know about Labor’s green dream.

“Weather dependent renewables are not the cheapest, and will never sustain industry in this country,” Cadell said. “Tomago Aluminium is the single largest user of power in Australia, consuming more than 10 percent of NSW energy supply.

“Recently, the smelter went to market seeking more than three times their current energy use because renewables can’t be trusted to deliver reliable power.

“Now, Labor is throwing your money at the industry to compensate for Albo and Bowen’s disastrous renewables only policy.”

Liberal candidate for Paterson Laurence Antcliff, said the Tomago smelter needs “certainty and reliable energy, not a political visit when it’s convenient ahead of an election”.

“The future of the smelter and its 1000 workers are threatened under this Labor Government’s irresponsible energy policy.

“Only the Dutton Liberal team has the right policy mix to guarantee the future of Tomago and the jobs our region relies on.”

By Andrew BROWN, AAP