Federal and state governments announce $2b bailout for Rio Tinto's Boyne aluminium smelter

The Australian government and Rio Tinto have announced a $2 billion bailout for the Boyne aluminium smelter, securing its long-term future. Rio Tinto will invest in energy and transmission assets, unlocking $7.5 billion in investment in Queensland's energy grid. The deal is expected to create jobs and boost the state's economy.