More than 1000 workers at two major smelters have been given a lifeline after a metals producer received a $105 million government boost.
The joint federal and state funding will keep Nyrstar's Hobart and Port Pirie, South Australia, plants running through 2026 while the international company weighs up major investments in critical minerals production.
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.
The new deal would keep workers in jobs and protect Australia's ability to process minerals vital to defence, semiconductor, energy and automotive industries, Industry and Innovation Minister Tim Ayres said.
Nyrstar, headquartered in the Netherlands, is a major producer of lead, silver, zinc and other critical minerals at the Port Pirie and Hobart smelters
