Port Pirie Welcomes Major Investment Prospects Under US-Australia Critical Minerals Deal
Port Pirie Regional Council has welcomed the signing of the US-Australia Critical Minerals and Rare Earths Framework Agreement, announced yesterday in Washington D.C. The agreement signals a potential $100 million investment in Nyrstar’s Port Pirie Smelter, a move that could help make Port Pirie ‘great again’.
The long-anticipated meeting between US President Donald Trump and Australian Prime Minister Anthony Albanese reportedly resulted in a $US8.5 billion ($13 billion) deal aimed at securing investment and supply chains for critical minerals. This includes $1 billion in funding from both the US and Australian Governments within the next six months.
Nyrstar has since received a non-binding and conditional letter from Export Finance Australia, supporting financing for the company’s antimony production in Port Pirie, as well as broader investments in the production of critical and strategic metals at its Australian sites.
The financial support adds to the $135 million State and Federal Government funding package announced in August for Nyrstar’s Port Pirie smelter and zinc refinery in Hobart.
This comes as Nyrstar commences a scheduled $80 million upgrade and maintenance program this month to improve operational performance and reliability. This includes 350 subcontractors engaged from 90 suppliers, generating substantial local economic activity.
Mayor Leon Stephens welcomed the announcements, saying the potential investment represents a strong sign of confidence in Port Pirie’s people and future.
“This is a strong signal that Port Pirie’s industrial strength and skilled workforce are being recognised internationally,” Mayor Stephens said.
“Our priority is ensuring that any investment of this scale delivers lasting benefits for our local workers, businesses and community. Council will continue to advocate for outcomes that put the people of Port Pirie first,” Mayor Stephens continued.
“A special thank you to senior management who represented Nyrstar recently in America – I am sure you made a difference.”