Governments announce $2m bailout for Australia's largest aluminium smelter

Rio Tinto, along with federal and state governments, has formed a landmark partnership to secure the long-term future of Australia's largest aluminium smelter in central Queensland.

Federal Industry Minister Tim Ayres and Queensland's Natural Resources Minister Dale Last announced the deal in Gladstone on Wednesday morning. As part of the $2 million bailout, Rio Tinto will invest in energy and transmission assets at the Boyne aluminium smelter, expected to unlock $7.5 billion in investment in the state's energy grid.

This partnership is a significant step towards ensuring the sustainability and growth of Australia's aluminium industry.