On 20 January 2025, the Albanese Labor Government announced an investment of $2 billion in Australia’s aluminium industry.1
Australian aluminium smelters that transition to renewable electricity prior to 2036 may be eligible to receive support in the form of the new Green Aluminium Production Credit for every tonne of clean aluminium produced over a decade.2
The introduction of the credit scheme aims to alleviate concerns of aluminium smelters in investing in renewable energy and to strengthen the aluminium industry’s regional skilled labour force.3 As global demand continues to rise for clean metals, the credit scheme will provide Australia’s metals industry with support to capitalise on international export opportunities while contributing to a decarbonised global economy.4
In a joint media release with the Prime Minister and Assistant Minister for a Future Made in Australia, The Hon Ed Husic MP – Minister for Industry and Science, stated that ‘with an entire aluminium supply chain uniquely located right here in Australia, we’re well positioned to capture the rewards of the global green energy transition’.5
Further information on the $2 billion investment can be found in the joint media release here.
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1 The Hon Anthony Albanese MP, Prime Minister of Australia, The Hon Ed Husic MP, Minister for Industry and Science and Senator the Hon Tim Ayres, Assistant Minister for a Future Made in Australia and Assistant for Trade, ‘Aluminium to forge Australia’s manufacturing future’ (Media Release, 20 January 2025) <https://www.pm.gov.au/media/aluminium-forge-australias-manufacturing-future>.
2 Ibid.
3 Ibid.
4 Ibid.
5 Ibid.
