<
https://theconversation.com/why-the-2-5-billion-tomago-aluminium-deal-is-no-ordinary-bailout-289629>
"On Thursday, the federal and New South Wales governments jointly announced a
deal to bail out the Tomago aluminium smelter, at a cost of A$2.5 billion over
ten years.
The smelter is Australia’s largest single user of electricity. Its majority
owner, mining giant Rio Tinto, had been warning higher electricity costs may
force it to close.
Since coming to power, the federal Labor government has stepped in to save a
number of struggling industrial facilities around the country – to the
collective tune of billions of dollars.
However, this new deal to future-proof the Tomago smelter is different to those
previous bailouts. It’s the result of more than a year of negotiations, with a
return to the taxpayer, the workforce, the shareholders and the planet."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
