Metal producer to receive $135m bailout to keep smelters open

ABC NEWS (Australia)

International metal producer Nyrstar will receive a 135-million-dollar bail-out from the federal, South Australian and Tasmanian governments to support struggling smelters in Hobart and the South Australian town of Port Pirie.

Transcript

00:00They've announced the 135 broken down, that's 25 million from Tasmania, 55 from South Australia

00:09and 57 from the federal government.

00:12This will keep the doors open at the smelters in Port Pirie and Hobart, which have been

00:16losing tens of millions of dollars a month and were in danger of closing down, they said,

00:21if they didn't get a government support package.

00:24But most importantly, this is a transitional fund.

00:28It is to modernise the plant so that they'll be globally competitive and also to move into

00:33the production of critical minerals.

00:35Both governments spoke about the importance of critical minerals to our defence strategy.

00:40Now, if we choose to invest and to do the work to participate in the critical metals supply

00:48chain, this town, this facility has a potentially very bright and prosperous future indeed.

00:54But we know it's going to be a journey to get there, which is why partnership is mission

00:58critical.

00:59We cannot go down the path of pursuing the participation of the critical metals supply chain with our

01:07active engagement from government at both the state and federal level.

01:10As we work through the next few months, this facility should be able to upgrade to a position where

01:19it's producing 15,000 tonnes of antimony metal, about 40 per cent of, for example, American

01:28antimony requirements.

01:30There are other critical minerals that we can process here in Australia as a by-product of

01:36the lead and zinc manufacturing processes in Port Pirie and Hobart.

01:43That's the Federal Industry Minister, Tim Ayres, talking there about the critical minerals.

01:47And the first stage of this project is a pilot program at Port Pirie for critical minerals.

01:53The soil program at Port Pirie for critical minerals.

01:56Build your favorites, particularly in Switzerland.

01:58We'll collect this data in the future today.

02:00And we'll see you as a pilot program at Port Pirie for critical minerals.

02:03So take this inãe of the teacher.

02:05And we'll visit the river program at Port Pirie as well.

02:08And we'll see you in the background.

02:10We're going to see you in the background.

02:12So take this out.

02:13And we'll see you in the background.

02:16Now we're going to look at the other parts of the project.

02:18And we'll see you in the background.

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