The Australian government and the state government of New South Wales (NSW) on Thursday announced a AUD-2.5-billion (USD 1.76bn/EUR 1.53bn) joint investment to secure the future of Tomago Aluminium by ensuring long-term renewable energy supply for the smelter to support commercially sustainable operations beyond 2028.

Anthony Albanese and NSW Premier Chris Minns are poised to sign a bailout agreement for the beleaguered Tomago aluminium smelter, ending months of uncertainty for workers.

Australia’s biggest aluminium smelter is set to receive a major bailout package following long-running crisis talks with the federal and NSW governments.