Latest news with #GuidoJanssen
Epoch Times
05-08-2025
- Business
- Epoch Times
Australia Pours $135 Million Into Zinc Smelters to Try Counter China's Export Pressure
Just months after a major report warned of the strategic risks posed by Australia's weakening metals refining sector, the Albanese government has announced $57.5 million to support two key zinc smelters in South Australia and Tasmania. The funding forms part of a broader $135 million transformation package backed by the South Australian and Tasmanian governments, contributing $55 million and $22.5 million respectively. The move aims to rescue the smelters from mounting global pressures—including a flood of cheap zinc exports from China—and reposition them for the critical minerals era. The investment will allow international metals producer Nyrstar to keep its Port Pirie and Hobart operations running while advancing detailed plans to modernise both sites and pivot toward refining high-value critical minerals. The package will fast-track feasibility studies into producing strategic minerals like antimony and bismuth at Port Pirie, and germanium and indium at Hobart—materials essential for defence, electronics, clean energy, and advanced manufacturing. An antimony pilot plant in Port Pirie will be a priority, potentially making it the only site in Australia producing the metal. Antimony is an alloy hardener for other metals in ammunition and critical to manufacturing semiconductors, it is also used in flame retardants, lead-acid batteries, and other industrial applications. The overall plan also includes infrastructure upgrades, engaging more than 550 contractors and suppliers. As per the announcement, Nyrstar contributes $1.7 billion annually to the economy and employs 1,400 workers, with 6,600 jobs supported indirectly. 'Through this partnership, Australia is demonstrating that it is at the forefront of taking meaningful steps to retain nationally strategic smelters and partner with industry to provide urgent short-term support, as well as work on solutions for their long-term viability,' said Nyrstar CEO Guido Janssen. Industry Minister Tim Ayres said the investment is about 'securing Australia's future in critical minerals processing.' Rich Reserves, Weak Processing The announcement follows the Economic and Strategic Importance of Multi-Metals Processing report, released in May which warned that Australia's deteriorating refining capacity could cost jobs, economic resilience, and national security leverage.
Perth Now
05-08-2025
- Business
- Perth Now
Smelter bailout to fast-track critical mineral capacity
Two Australian smelters will pivot to producing critical minerals in an ambitious modernisation, supported by a taxpayer bailout to protect jobs. The governments of South Australia and Tasmania on Tuesday announced state and federal contributions to the $135 million package for smelters operated by international producer Nyrstar. Combined with investment by Nyrstar, the package allows the company to maintain operations while planning to potentially rebuild and modernise both its Port Pirie lead smelter in SA and its zinc smelter in Hobart. The funding will also help fast-track feasibility studies into critical metals production. The company has blamed its financial woes on China's "market distortion" through heavy subsidies for Chinese companies. Nyrstar will explore the potential production of essential critical minerals including antimony and bismuth at Port Pirie and germanium and indium at Hobart. As Australia's only lead refiner and largest zinc refiner, Nyrstar contributes about $1.7 billion annually to Australia's economy, supporting 1400 direct jobs and 6647 indirect jobs. The critical minerals are considered vital for sectors including defence, clean energy, transport, advanced manufacturing and hi-tech applications. An immediate focus of the package is an antimony pilot plant in Port Pirie, which if successful would make it the only producer of antimony metal in Australia and one of the few producers globally. Antimony is an alloy hardener for other metals in ammunition and critical to manufacturing semi-conductors found in electronics and defence applications. The support will also fund "asset integrity projects" including a major maintenance project in Port Pirie requiring 350 contractors and 90 suppliers, and major furnace and wharf investments in Hobart involving 200 contractors and suppliers. The support demonstrates the strategic importance of Australian operations in "extremely challenging global market conditions", Nyrstar global chief executive officer Guido Janssen said in a statement. SA Premier Peter Malinauskas said it was an opportunity to transform the Port Pirie smelter and secure its long-term future. "The transformation of the smelter into a producer of critical minerals would put our state at the forefront of a global supply chain that is vital to clean energy, defence, and high-tech manufacturing," he said. Independent Tasmanian MP Andrew Wilkie said the survival of the zinc works, along with other facilities like Liberty Bell Bay, Mt Isa and Whyalla, was "central to Australia's economic future and national security". "When it comes to critical minerals and rare earth minerals in particular, Australia is remarkably well positioned to be a globally important supplier." Mining giant Glencore faces similar challenges at its Mt Isa copper smelter and Townsville refinery, and warned it will be forced to put both facilities into care and maintenance mode - risking thousands of jobs - if it does not receive taxpayer assistance.
ABC News
05-08-2025
- Business
- ABC News
Nyrstar to get $135 million bailout for struggling metals smelters
International metals producer Nyrstar will receive a $135 million bailout from the federal, South Australian and Tasmanian governments to support its struggling businesses in Port Pirie and Hobart. The company said that the funding — together with its parent company Trafigura – would enable it to "maintain its ongoing operations" while working on engineering planning towards a significant rebuild of its Australian smelters. It said the money would also be targeted towards projects including critical scheduled maintenance at the Port Pirie lead smelter and the major furnace and wharf investments in Hobart. Nyrstar Global's CEO Guido Janssen said the support package came at a time of "extremely challenging global market conditions". "This support demonstrates the strategic importance of the Australian operations for sovereign capability and delivering products needed globally for modern economies," he said in a statement.
