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Australian Government Commits $1.24 Billion for Green Aluminium Production

Australian Government Commits $1.24 Billion for Green Aluminium Production

Australian Government Commits $1.24 Billion for Green Aluminium Production
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  • The Albanese Labor Government invests $2 billion to strengthen the Australian-made aluminium industry.
  • A new Green Aluminium Production Credit supports smelters switching to renewable energy by 2036.
  • Australia aims to expand its aluminium production and reduce emissions, leveraging its natural resources and skilled workforce.

Australia Invests $2 Billion in Aluminium

The Albanese Labor Government is investing a record $2 billion into Australia’s aluminium sector, aiming to secure jobs and boost the industry’s future. This plan focuses on producing cleaner, more reliable aluminium while promoting economic growth in regional areas.

New Green Aluminium Production Credit

The initiative introduces a Green Aluminium Production Credit to support local smelters adopting renewable energy by 2036. Smelters will receive financial backing for each tonne of clean aluminium produced, ensuring long-term job security and encouraging investment in Australia’s world-class aluminium industry.

Prime Minister Albanese’s Vision

Prime Minister Anthony Albanese emphasized, “Labor’s plan for a Future Made in Australia is very clear: we want Australia to make more things here. Investing in the Australian-made aluminium industry is a massive opportunity – to create well-paid jobs in our regions and suburbs.”

Prime Minister Anthony Albanese

Australia’s Global Aluminium Position

Australia is already the world’s sixth-largest producer of aluminium, and with abundant resources like solar, wind energy, and critical minerals, the country aims to expand production. This strategic investment aligns with the global demand for clean metals, providing a chance to lead the decarbonising economy.

Related Article: Mercedes-Benz and H2 Green Steel Sign Green Steel Agreement

Minister Husic’s Take on the Investment

Minister for Industry and Science Ed Husic added, “Jobs up, emissions down and a secure future for our world-class aluminium industry – that’s what today’s announcement provides. We’re well positioned to capture the rewards of the global green energy transition.”

Minister for Industry and Science Ed Husic

Regional Benefits

The investment spans regions like Central Queensland and Northern Tasmania, guaranteeing secure blue-collar jobs. Assistant Minister Tim Ayres stressed, “This package guarantees good blue collar jobs in the Hunter, Central Queensland, Northern Tasmania, Western Australia and Victoria.”

Assistant Minister Tim Ayres

The announcement underscores Labor’s commitment to leveraging Australia’s strengths and building a sustainable future, emphasizing that the risks posed by alternative policies could jeopardize manufacturing and jobs.

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