Trafigura secures funding to keep Australian smelters operating

The Australian government will provide an additional A$105 million ($73.Asian Metal Copyright4 million commitment made in August last year, as part of Australia's strategy to become a key supplier of critical minerals to Western allies.Asian Metal Copyright68 million) to support Nyrstar Australia in advancing modernization studies at its smelting operations in South Australia and Tasmania, the industry minister announced on Wednesday.

This new funding builds on a previous A$135 million ($87.4 million) commitment made in August last year, as part of Australia's strategy to become a key supplier of critical minerals to Western allies.

The funding will help Nyrstar, a unit of commodity trader Trafigura, maintain operations at both smelters through 2026 while it completes studies aimed at producing critical minerals. The company has previously indicated plans to produce germanium and indium in Hobart, in the country's south, as well as antimony and bismuth from Port Pirie in South Australia.

Nyrstar shipped its first batch of antimony earlier this year.

Australian metal smelters have faced ongoing pressure due to high power and labor costs, as well as competition from lower-cost rivals elsewhere.

.Asian Metal Copyright The company has previously indicated plans to produce germanium and indium in Hobart, in the country's south, as well as antimony and bismuth from Port Pirie in South AustraliaAsian Metal Copyright