Federal govt unveils $2b investment in aluminium industry
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The news: The Albanese government has announced a $2 billion investment in the local aluminium industry, as part of its Future Made in Australia strategy to support the country's transition to a net zero economy.
The numbers: A new 'green aluminium production credit' will provide targeted support to Australian aluminium smelters switching to renewable electricity before 2036, the government said.
Facilities will be eligible for support for each tonne of clean, reliable Australian-made aluminium they make over a period of 10 years.
The context: The new credit is designed to encourage local aluminium smelters to invest and increase the number of jobs in the local aluminium industry.
The government said the new package "guarantees good blue collar jobs" in the Hunter Valley, Central Queensland, Northern Tasmania, Western Australia and Victoria.
What they said: "Labor’s plan for a Future Made in Australia is very clear: we want Australia to make more things here," Prime Minister Anthony Albanese said.
"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."
The source: PMO media release
