00:02NEARSTAR's 109-year-old Hobart zinc smelter employs more than 500 people.
00:07Last August, the state and federal governments gave it and NEARSTAR's Port Pirie smelter
00:12a $135 million lifeline, which was phase one of the longer-term rescue package.
00:19It expired today.
00:20That's why, last evening, I met with the Federal Minister and indeed the South Australian
00:27Premier as we are working through a package of support.
00:32Tasmania announced another $7.5 million in funding today, but it's not clear how long
00:38it's supposed to last.
00:39Generally, people are quite anxious that things haven't been sorted out for the second round
00:46of support.
00:47A two-year feasibility study into the two smelters' viability is underway.
00:51It's not due until mid-next year at the latest.
00:54The Port Pirie smelter was upgraded recently to produce antimony, a critical mineral used
01:00in defence equipment.
01:01Late today, the company said it was reviewing production.
01:05Hobart smelter also makes critical minerals, key capabilities given Australia's aim of becoming
01:11a major supplier.
01:12As a nation, we have to make a decision.
01:15Are we going to lose our smelting capacity, just like we gave up our capacity to refine
01:19fuels?
01:20The Federal Industry Minister wasn't talking publicly today, neither was Neistar, but it
01:26issued a statement in part saying, disappointingly, we've not been able to reach agreement on the
01:31next phase and now have to consider all options for the business.
01:36All options also means the company's considering closing the Hobart and Port Pirie smelters.
01:42Whether the company is serious about that threat, we don't know.
01:45Or whether it's a bargaining chip, used by the parent company, Trafigura, a leading international
01:51commodity supplier, which is well used to playing hardball with governments in negotiations.
01:57We're talking about a lot of money involved here.
01:59It's taxpayers' money.
02:00And we've got a responsibility not just to, you know, blindly accept any company's version
02:07of events and sign a blank cheque.
02:09The South Australian Premier was hoping a new government deal would be ready by the end
02:14of today.
02:14And we've got a lot of money.
02:15We've got a lot of money.
02:15We've got a lot of money.
02:17We've got a lot of money.
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