Rio Tinto says Gladstone Power Station could close by March 2029
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The news: Rio Tinto has warned that the Gladstone Power Station in Queensland could close in March 2029, six years earlier than scheduled.
The numbers: The mining giant, which has a 42% stake in Queensland's largest coal-fired power station, said no final decision has been made to retire the site, which has operated since 1976.
However, the Australian Energy Market Operator has been formally notified of the power station's potential retirement, complying with National Electricity Rules to provide notice of closure of electricity generators 3.5 years in advance.
The context: Rio Tinto said there is potential to extend the life of the power station "should market and other factors allow". The company also said there would be no immediate impact on current operations and existing power supply contracts will remain in place until their scheduled expiry.
Rio Tinto, along with the project's other joint venture partners, are set to engage with stakeholders between now and March 2029 on options for the future use of the site, helping to inform the timeline and strategy for the retirement of the facility.
The source: Rio Tinto media release
