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The $300m power play: Inside the plan to save Tomago

The Albanese government says its plan to save a failing aluminium smelter will turbocharge Australia’s energy transition. But at what cost?

Prime Minister Anthony Albanese and Rio Tinto CEO Simon Trott are working on the details of a deal to keep Tomago alive.  Harry Afentoglou

Just two days before the Bondi terror attack engulfed Australia’s political news cycle in December, Anthony Albanese made a flying visit to the lower Hunter region of NSW, one of Labor’s blue-collar heartlands. The prime minister was there to deliver a message for its biggest – and most troubled – manufacturing facility.

The Tomago aluminium smelter is a 43-year-old industrial behemoth that consumes more than 12 per cent of the state’s power. Standing in the rain outside the smelter, Albanese made a basic – and potentially very expensive – promise to its more than 1000 workers and their families: the plant would be saved.

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Ryan Cropp
Energy and climate reporterRyan Cropp is an energy and climate reporter at The Australian Financial Review based in the Canberra bureau.
Angela Macdonald-Smith
Senior resources writerAngela Macdonald-Smith writes on the resources industry with a focus on energy, including gas, oil, electricity and renewables. Connect with Angela on Twitter. Email Angela at amacdonald-smith@afr.com

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