Australia Drives Green Revolution in Aluminium Production

Australia's government has pledged A$2 billion in production credits to help the country's aluminium smelters switch to renewable energy by 2036. This move supports four smelters operated by Rio Tinto and Alcoa to produce low-carbon aluminium, aligning with Australia's goal to increase renewable power supply.

Australia's Labor government has announced a substantial commitment to the nation's aluminium industry, promising A$2 billion in production credits aimed at aiding the transition to renewable energy by 2036.

This initiative targets the country's four aluminium smelters, managed by major operators Rio Tinto and Alcoa, encouraging them to produce low-carbon aluminium. Prime Minister Anthony Albanese emphasized governmental support for each ton of low-carbon metal produced, aligning this effort with a broader election strategy prioritizing renewable energy.

Currently, Australia endeavors to achieve 82% of its power from renewable sources by 2030, though at present it stands at 40%. The move is part of a broader A$40 billion investment in renewable projects and aims to leverage Australia's rich solar and wind resources, its critical minerals, and a skilled workforce to bolster its metals industry on the global stage.

(With inputs from agencies.)