Rio Tinto and Queensland Government Secure Boyne Smelter's Future
Agreement Ensures Smelter's Operation Until 2040
Details of the Agreement
Mining giant Rio Tinto and the Queensland government have signed an agreement to maintain the Boyne aluminium smelter's operation until at least 2040. The agreement includes:
- Financial support from the government
- Investment in new technology to reduce emissions
- Collaboration on workforce development
Benefits of the Agreement
The agreement has numerous benefits, including:
- Preservation of over 1,000 jobs at the smelter
- Support for the local economy
- Reduction of the smelter's environmental impact
Significance of the Agreement
The agreement is a significant milestone for the aluminium industry in Queensland and Australia. It ensures the long-term viability of the Boyne smelter, which is the second-largest in Australia.
Government Support
The Queensland government has pledged financial support to help maintain the smelter's operation. The government will provide:
- A loan of up to $250 million
- An equity investment of up to $50 million
- Support for research and development
Rio Tinto's Commitment
Rio Tinto has committed to investing in new technology to reduce the smelter's emissions. The company will also work with the government on workforce development programs to ensure the smelter has a skilled workforce for the future.
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