Two under-pressure smelters and their 1000-plus workers have been given a $105 million lifeline as the federal government aims to build critical minerals production.
The joint state and commonwealth funding, announced on Wednesday, supports continued Nyrstar operations in South Australia's Port Pirie and Hobart until the end of 2026.
The money would allow the company to continue work on a two-year feasibility study into critical minerals production and modernisation, Industry Minister Tim Ayres said.
"It is really important as Australians we value these facilities and think carefully about the industrial capability that we need for the future," he said in Hobart.
"This is about securing jobs, strengthening our industrial base and positioning Australia higher up the global value chain."
The agreement follows the expiry of a $135 million rescue package in May and weeks of tense talks over how much taxpayer money would be put on the table to secure the sites.
