House debates

Monday, 22 March 2021

Statements by Members

Aluminium Industry

4:23 pm

Photo of Ken O'DowdKen O'Dowd (Flynn, National Party) Share this | | Hansard source

Today I rise to talk about the Australian aluminium industry. The industry is bouncing back from a low price and moderate demand. Australia is the world's largest producer of bauxite, and it has a rosy future. The industry contributes about $13 billion to the economy each year. According to the International Aluminium Institute, global demand per capita is forecast to increase by 50 per cent by the year 2050, especially for countries like China, Japan and the Middle East.

The growing demand is an amazing opportunity for Australia in my electorate of Flynn. In Gladstone, we already have an established aluminium industry with two refineries, one at Gladstone and one at Yarwun, and we have an aluminium refinery at the Boyne Island. It's the Boyne Island smelter that turns alumina into aluminium. It's based on: four tonne of bauxite and two tonne of alumina equals one tonne of aluminium. As the global demand increases, Gladstone is well positioned to handle this expansion of the market.