Aug 12, 2026 – 10.30pmThe Tomago aluminium smelter will get a $2.5 billion, 10-year bailout paid for by federal and NSW taxpayers in a deal that will also involve a $1.1 billion facility upgrade by Rio Tinto.Tomago employs about 1000 people and accounts for 12 per cent of NSW’s electricity demand. In December, Prime Minister Anthony Albanese said he would keep the smelter operating beyond the expiry of its current electricity supply contracts on December 31, 2028.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles