Aug 12, 2026 – 10.48amPrime Minister Anthony Albanese and NSW Premier Chris Minns are set to unveil a major bailout for the Rio-Tinto owned Tomago aluminium smelter on Thursday after weeks of tense behind-the-scenes negotiations.Albanese, Minns, Treasurer Jim Chalmers and Industry Minister Tim Ayres are all expected to travel to Tomago just outside Newcastle to announce the latest and likely largest bailout for a heavy metal smelter to date.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles