Breaking: Further $105m federal-state bailout announced for Nyrstar smelters

Struggling Nyrstar smelters in Tasmania and South Australia have secured a vital lifeline with a new $105 million federal and state funding package. This announcement follows a previous joint funding of $135 million received last August, which was crucial in keeping the Hobart and Port Pirie smelters operational.

The latest funding, announced jointly by federal and state governments, will ensure the continued operation of both facilities through the end of 2026. It also allocates resources for Nyrstar to complete a pre-feasibility study and advance a further feasibility study focused on expanding the production of critical and strategic minerals. This move signals a potential diversification and growth strategy for the company.

South Australian Premier Peter Malinauskas highlighted the "unique opportunity" presented by the possibility of producing antimony and other critical metals in Port Pirie. He stated that the investment from three governments ensures this important work can proceed thoroughly and without delay. Tasmanian Premier Jeremy Rockliff emphasized the package's role in securing approximately 600 direct jobs and an additional 1,000 indirect jobs within the state. The Port Pirie smelter alone directly employs around 800 people, underscoring the significant local economic impact.

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Examining that opportunity thoroughly requires time, and this investment on behalf of three governments ensures that important work can continue apace.