Australian Treasurer signals conditional support for struggling smelters
Federal Treasurer Jim Chalmers says the government is prepared to play a constructive role in supporting Australia’s embattled smelters but stressed that taxpayer funding must deliver “value for money” and that companies must “do right by their workers”.
Speaking at a media briefing in Canberra on Monday, Chalmers said the government was engaged in discussions with state governments and industry over the future of several energy-intensive operations, including the copper smelter at Mount Isa in Queensland and aluminium smelters in New South Wales and Tasmania.
“These facilities are under extreme pressure,” Chalmers said. “We are prepared to do the right thing if we can afford to and if we get value for money, if it is consistent with the government’s values and priorities. But we need to make sure that the companies do the right thing by their workers as well. We need to make sure those workers are front and centre.”
Chalmers noted that the Commonwealth’s support was not unlimited, but added: “Whenever the government considers playing a helpful role, potentially a helpful financial role, that is used as a way to ensure that the commercial players do the right thing too.”
The smelting sector is battling soaring power costs and competition from cheap Chinese exports. The federal government has already stepped in with a A$1.7-billion support package for the Whyalla steelworks in South Australia.
Some leaders have pressed for companies such as Rio Tinto, CSR, Hydro Aluminium and Glencore to commit to long-term investment before any additional public funding is considered.
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