Rio Tinto, Queensland and Commonwealth Invest A$2 Billion for Boyne Aluminium Smelter's Future

Rio Tinto, the Queensland Government, and the Commonwealth Government have formed a partnership to secure the Boyne aluminium smelter's long-term future at Gladstone. They will jointly invest A$2 billion over 10 years to 2040, ensuring the smelter remains internationally competitive and supports local manufacturing jobs. The deal builds on previous power purchase agreements, facilitating A$7.5 billion in renewable energy projects in Queensland.

Published Mar 26, 2026

Rio Tinto, the Queensland Government, and the Commonwealth Government have established a partnership to secure the Boyne aluminium smelter's operations in Gladstone through a combined investment of A$2 billion over 10 years, continuing until 2040. This initiative is part of the Federal Government's Future Made in Australia program.

AI-curated by Theia

The agreement enables the smelter to maintain aluminium production beyond its current power contract expiring in 2029 and supports local jobs. Additionally, Rio Tinto has contracted over 2.8GW of renewable energy and 600MW of storage capacity from various projects since January 2024.