Rio Tinto has agreed to keep open its troubled Tomago aluminium smelter in return for a Commonwealth-led deal which will provide it with billions of dollars in subsidised power from the Snowy-Hydro project.
Following months of negotiation to avoid the smelter closing down at a cost of at least 1000 jobs, Prime Minister Anthony Albanese and Industry Minister Tim Ayres made the announcement at the smelter outside Newcastle, NSW.
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