00:00Touring Tomago in January, no hint of the troubles brewing.
00:07We've got all our different products here.
00:09Ten months later, that shine is wearing off.
00:12Workers waking up to news this morning that after 40 years in operation, the plant could be closing.
00:18This will be very challenging news for them indeed.
00:22The country's largest aluminium producer, the Rio Tinto-owned smelter, is also Australia's largest energy user.
00:29Its power bill accounting for 40% of its costs.
00:33Its current contract runs out at the end of 2028.
00:36And after that, the company says power prices are set to soar.
00:41The energy price is a defining challenge for us.
00:45In recent weeks, the federal and state governments offered a secret support package.
00:50But the company knocked it back.
00:52An aluminium smelter like Tomago needs long-term, reliable and internationally competitive price.
01:01With a thousand workers now in limbo and a month of consultations ahead, the government and its Hunter region MPs are scrambling.
01:09If we lose something like that, you really have to start to question if we're going to be a country that actually makes things at all.
01:15Taxpayers are bailing out heavy industry across the country.
01:19The federal government together with South Australia tipping $2.4 billion into the Wyala Steelworks.
01:26Combining with Queensland to spend $600 million propping up Glencore's copper smelter.
01:32And jointly funding a $135 million bailout for Neastar's zinc and lead smelters in Tasmania and South Australia.
01:40Will the minister admit that Labor's energy policy is killing local jobs and local manufacturing in the Hunter?
01:48We continue to be in discussions with Rio and the state government on options for Tomago.
01:53Nothing is off the table.
01:55This goes to the heart of the energy transition.
01:57Renewables are not being built quickly enough and gas prices remain very high.
02:03The federal government says all options are on the table to save this smelter.
02:07But if Tomago does survive, the bottom line is taxpayers will almost certainly be on the hook.
02:14You'll be able to qualify...
02:15You can see these numbers of people on the table.
02:16... put the big instructions on the table.
02:17I'll show you how we're going to use that here as well.
02:18A few of the people on the table.
02:19And the people on the table are not special and are the people on the table.
02:20And the people on the table will not be with them.
02:21I'm sure they'll be able to run to the table.
02:22I'll show you how they are.
02:23And if they'll give you the money, can I have a little, that way,
02:24you'll be able to spend a little bit with them on the table.
02:26We also have a lot of power that can be done.
02:27That's what I think is.
02:28So, I hope that you've got a little bit with them now.
02:30You can see it somehow.
02:31And the other people on the table.
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