UK-Australian mining firm Rio Tinto and the Queensland state government said today that they have agreed on a partnership to safeguard Boyne Smelters' (BSL) future by supporting investment in its transition to renewables.
BSL, which started production in 1982, has a 500,000 t/yr aluminium production capacity. It takes alumina as feedstock from the nearby 3.7mn t/yr Queensland Alumina plant that Rio Tinto controls.
Rio Tinto said it will invest to maintain BSL's full operational capacity and work to expand its coastal shipping capacity, adding a fifth domestically crewed vessel to transport bauxite from its Gove and Weipa mines to Gladstone port. Rio Tinto will, in addition to its existing commitments to solar and wind projects across the state, commit to additional sustainable energy investments in Queensland and support the state to establish Gladstone as a renewable energy hub.
The Queensland government will through its energy and jobs plan support BSL's financial viability from 2029 as it transits to consume renewable energy.
Rio Tinto now owns 73.5pc of BSL after acquiring this year a 2.46pc stake from Japan's Sumitomo Chemical and 11.65pc from Japanese firm Mitsubishi. The remainder is owned by YKK Aluminium with 9.5pc, UACJ Australia 9.29pc and Southern Cross Aluminium with 7.71pc.
By Chi Hin Ling
