Link: https://www.abc.net.au/news/2025-10-30/tomago-bailout-energy-transition-rio-tinto-labor/105943642

In short:

The Australian Labor Party government is preparing to step in to support the Tomago Aluminium smelter in New South Wales — despite rising frustration with majority owner Rio Tinto.

What’s next?
The government says “all options” are on the table — including subsidising energy bills or taking a direct stake — while insisting no blank cheque will be written.

Historically Rio Tinto were involved with Slave Labour in their Nambian Uranium mine, they had very bad safety standards for black workers, and the mine was near a town that still chanted Nazi songs and slogans (Swakomund, Nambia). Peter Thiel's father worked in that industry/town.

They're certainly a scummy company. Huge environmental disasters are left in their wake as well.

They did exactly that after shuttering the tiwai point smelter in NZ.

After throwing a tantrum about energy pricing.