en.Wedoany.com Reported - The Australian federal government, along with the governments of Tasmania and South Australia, jointly announced a financial support package for Nyrstar's two zinc smelters located in Hobart and Port Pirie to sustain their operations until 2026. By then, Nyrstar is expected to complete a pre-feasibility study and advance further research to expand the country's production scale of critical minerals.
The Tasmanian government stated that this support initiative aims to maintain industrial capacity and the thousands of jobs associated with the two smelters, while buying time for detailed assessments of long-term investment decisions. Tasmanian Premier Jeremy Rockliff noted that the Nyrstar Hobart smelter remains a core component of the state's manufacturing and strategic materials processing capabilities, one of its most significant industrial employers, and a cornerstone of advanced manufacturing and strategic materials processing.
Rockliff said the funding package would help secure the near-term prospects of over 600 direct jobs and more than 1,000 indirect jobs in Tasmania. He revealed that Nyrstar contributes over AUD 510 million annually to the Tasmanian economy, playing a key role in sustaining economic activity across the state. This investment will help keep Tasmania's electricity prices among the lowest in the country, support the state's industrial future, enhance sovereign capability, and ensure Tasmania remains a critical link in Australia's mineral processing supply chain.
The governments stated that the funding will enable Nyrstar to complete the pre-feasibility study and advance further feasibility work to identify opportunities for expanding and accelerating domestic critical mineral production. Nyrstar is also continuing to fulfill commitments from a previous support package, including the first shipment of antimony metal earlier this year, which is used in defense, semiconductor, energy, and automotive applications.
Federal Minister for Industry and Innovation Tim Ayres said the investment helps maintain Australia's processing capabilities while developing future plans. He emphasized that the move supports Australian industry and ensures the country retains the ability to refine and process minerals needed by the world, securing jobs, strengthening the industrial base, and positioning Australia higher in the global value chain.
As part of the extended support arrangement, Nyrstar will participate in joint reviews with the governments in the coming months to establish a common framework determining the long-term development path for the two plants. South Australian Premier Peter Malinauskas said the agreement will allow critical assessments to continue in Port Pirie. He noted that global instability in recent months has further highlighted the importance of Australian sovereignty, and the potential to produce antimony and other critical metals in Port Pirie offers a unique opportunity to meet national and global demand. Thoroughly examining this opportunity takes time, and the investment representing three governments ensures that important work can continue quickly.
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