Rio Tinto has reached an agreement with the Australian Federal Government and the State of Queensland to ensure the long-term operation of the Boyne aluminum smelter in Gladstone. The controlling stake in the enterprise belongs to Rio Tinto. The new agreements will make it possible to maintain production until at least 2040, which is especially important in light of the expiration of the current energy contract in 2029.
Under the terms of the partnership, national and state governments will commit A$2 billion over a decade. For its part, Rio Tinto will allocate 7.5 billion Australian dollars for the development of renewable energy and construction of electricity storage systems in the region. The combined efforts will allow Boyne Smelters Limited to convert the plant to predominantly clean energy sources.
It is planned that the enterprise will become one of the world leaders in the use of solar and wind generation in the aluminum industry. This will not only reduce operating costs, but also reduce dependence on fossil fuels, the prices of which have been steadily rising.
Rio Tinto Aluminum & Lithium said maintaining capacity at Gladstone was strategic to the integrity of the Queensland manufacturing chain. All links are concentrated in the region – from bauxite mining and alumina production to the smelting of finished aluminum. In the context of the global energy transition and increasing needs for light metals such vertical integration becomes an important competitive advantage.
In parallel, Rio Tinto entered into a deal with Lightsource bp to acquire 40 percent of the electricity generated by the Lower Wonga hybrid project. The complex includes solar power and storage systems, providing an additional 112 megawatts of capacity. Including this contract, the total amount of renewable energy contracted by Rio Tinto in Queensland exceeds 2.8 gigawatts.
The multilateral agreement not only guarantees the stable operation of one of Australia’s key industrial facilities for the next 15 years, but also sets guidelines for the sustainable development of the entire aluminum sector in the region. For the country, this means maintaining high-tech jobs and strengthening its position in international metals supply chains.
Source: gorgorizont.ru
Image: gorgorizont.ru
