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Tomago bailout in the national interest, says Ayres
The industry minister, Tim Ayres is in Tomago, in the NSW Hunter region today announcing a bailout of Australia’s largest aluminium smelter.
The owners of this facility have made very clear is it’s the high cost of coal power that is the problem for this facility. And that the only solution was to bring forward investment in new renewables, wind and solar, backed by storage and gas, to deliver lower cost efficient electricity for this system.
We are operating in an environment where Australia’s industrial capability, our heavy manufacturing capability, is vital for our future national security, for our national economy resilience.
Continue reading...This article was originally published by The Guardian and written by Krishani Dhanji.
Read original article on The Guardian