The Australian Government’s announce A$2 billion production credits for the aluminium smelting sector as part of its Future Made in Australia plan.
“Until now, we have seen many other countries take decisive action to support their domestic manufacturing industries while Australia has been less proactive in comparison,” the Australian Aluminium Council CEO, Marghanita Johnson, said.
“The natural advantages of our mineral reserves, renewable energy resources, and highly skilled workforce can give us a competitive edge, but only if supported by the right policy frameworks, over the right timeframe” Ms Johnson said. “The announcement of A$2 billion in production credits for the sector represents a substantial step forward in the journey for Australia to position itself as a leader in the global aluminium market.”
These new aluminium production credits should provide the some of the transitional support needed as Australia’s energy infrastructure and systems develop, and energy pricing returns to competitive levels. The announcement lays the groundwork for:
- Access to reliable, lower-carbon energy at competitive prices;
- Support for capital investment in decarbonisation technologies; and
- Predictable and streamlined regulatory approvals, needed to support this implementation, across the aluminium value chain.
Ms Johnson said commented, “This policy supports not just resource extraction but also the transformation of those resources into high value finished products, creating more than 75,000 direct and indirect jobs, predominantly in regional Australia.”