Rio Tinto's Tomago Smelter Secures 10-Year Renewable Power Deal, Plans A$1.1 Billion Investment
Rio Tinto announced on August 13 that its Tomago aluminium smelter in Australia has reached an agreement with the Australian government and the New South Wales government. Under the agreement, the smelter will sign a 10-year power purchase agreement covering the period until 2038, with all electricity sourced from renewable energy from 2033.
To support this agreement, Tomago plans to invest A$1.1 billion by 2038, including A$100 million for decarbonisation projects.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is mixed for Base Metals, with intensity 40/100 and 70% confidence over a long term horizon.
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