Nyrstar warns of ‘urgent, serious' risk of smelter closure
Matt Howell, who took over as chief executive of Nyrstar Australia in January, has been locked in talks with the federal, South Australian and Tasmanian governments for months on assistance. The three governments are now close to a deal, with an outcome expected as early as this week.
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Oil and gas giant abandons third Australian offshore wind project
Labor's plans to establish a nationwide offshore wind industry have been dealt a fresh blow after Norwegian oil and gas giant Equinor confirmed it had walked away from one of its last remaining Australian projects. The Norwegian multinational has had a majority interest in the Bass Offshore Wind Energy, or BOWE, project off the northeast Tasmanian coast since December 2022, when it joined forces with local developer Nexsphere.
Sky News AU
4 hours ago
- Sky News AU
Boyer Paper Mill owner David Marriner warns 340 positions under threat as limited renewable energy eats into budget
The owner of Australia's last paper mill has issued a desperate plea for his 340 employees as his business struggles with energy problems. David Marriner, the CEO of Boyer Paper Mill in Tasmania, lamented the setbacks he has faced as he tries to electrify his business. Boyer Paper Mill currently spends about $12m per year on coal which the company imports from Newcastle after it lost its Tasmanian source three years ago, according to Mr Marriner. It sought to install electric boilers to greatly reduce emissions but the state-owned power company Hydro Tasmania said it did not have enough power to supply the mill. 'To my amazement, I sit in the commercial strip on Collins St to be told there's simply not the power,' Mr Marriner said. Boyer was unable to secure the power despite the federal government investing $9m into the paper mill in part to facilitate its decarbonisation. Mr Marriner stressed the paper mill needed the same power arrangements as fellow industrial users that are offered competitive prices. 'What we're keen to have (is) nothing more or nothing less than the prices that are being provided to the other two or three equivalent major suppliers,' he said. 'We just want the same terms and conditions. We don't want to be paying more than what our competitors are. I'm absolutely shattered and disappointed.' He said if the mill was unable to secure hydro power from Tasmania the business would be 'unsustainable' as the company forks out $12m per year for coal from NSW. 'The political system forced the closure and access to coal in Tasmania to us,' Mr Marriner said. "Why should 340 employees take the burden of stupid decisions? Why should they lose jobs?" Prime Minister Anthony Albanese earlier this year pledged $24m to the mill as part of Labor's lavish pre-election cash splashes. Of that cash injection, about $9m was to "stabilise its operations and prepare major investments to decarbonise and diversify its production". 'Boyer Paper Mill is an iconic part of Tasmania's manufacturing story,' the Prime Minister said in April. 'It was Australia's first ever newsprint mill built in the 1940s, and thousands of Tasmanians have worked here over that time. 'We want to see the mill continue well into the future, and that is why we are committing up to $24m to help Boyer secure local jobs and supply chains and move forward with confidence towards a low-emissions future.' The power price struggles for Boyer Paper Mill comes as a litany of manufacturers around the country struggle to remain viable. Rio Tinto-owned aluminium smelter Tomago located north of Newcastle, is reportedly seeking billions of dollars in public funds to prevent collapse. Meanwhile, a zinc and lead producer Myrstar Australia is also seeking government handouts as it loses "tens of millions a month".
The Advertiser
5 hours ago
- The Advertiser
'Cheaper, fairer, ours': state insurance firm unveiled
Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections. Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections. Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections. Households and businesses could pay less for insurance under a Liberal plan for a government-owned provider, as cost-of-living issues continue to dominate ahead of a state election. Tasmanian Premier Jeremy Rockliff unveiled his party's signature policy on Wednesday to support families and small businesses facing rising insurance costs. TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance. Under the Liberals' "most significant" campaign announcement, households could expect to save $250 or more on insurance premiums annually, and small businesses to pay 20 per cent less, Mr Rockliff said. The insurance industry made $6 billion in profits last year, while average Tasmanian premiums rose by 35 per cent over the past two years. The premier said the national market had failed his state. "In the absence of a national approach, we are going at it alone to protect Tasmanians from exorbitant increases in insurance premiums," Mr Rockliff said. "It'll be cheaper, it'll be fairer, and it will be ours." Any profits made by TasInsure will be reinvested to ensure premiums are kept low, he added. Draft legislation will be presented for consultation by the end of the year, and the government will need to gain national accreditation. The Tasmanian Chamber of Commerce and Industry has welcomed the "game-changing" announcement after insurance costs were listed as a top-two concern for small businesses. "There has been a market failure in the insurance industry caused by massive disasters in the mainland that throw the premiums out right across the nation," chief executive Michael Bailey said. But Labor leader Dean Winter said the policy was "dangerous, reckless and dodgy", which puts Tasmania "on a pathway to bankruptcy". "It's a premier who's been saying he wants to privatise for the last six months, and now he says he wants to open a new public business," he said. "This is a desperate bid from the premier." The Opposition on Wednesday announced a policy to "stop bill shock" and allow Tasmanians to pay government bills monthly at no extra cost. "We know that it's really tough when you get bill shock - one big bill a quarter makes it really tough for people to make ends meet," Mr Winter said. The policy is part of a suite of proposals, including previously announced power price caps and a freeze on car registration costs, Labor said would help with household budgets. The Greens also unveiled the second part of their budget repair plan, which they say would save the state $363 million by 2027/28. The minor party will end $12 million in subsidies to the native forest logging industry and more than $37 million to TasRacing, while also reducing the Treasurer's reserve back to $10 million from $40 million. The island state is heading to the polls on July 19, the second time in two years, after its parliament passed a no-confidence motion in Mr Rockliff in early June. The Liberals have governed in minority since 2023, and collapsing relationships with the crossbench have triggered the past two elections.
