Firmus Technologies says one of its three planned AI data centres in Tasmania's north is not yet funded. The company abandoned its plan to list on the Australian stock exchange earlier this month but is continuing with its Tasmanian projects. Firmus general energy manager Paul Grzinic told a parliamentary committee that the Launceston and Wesley Vale stage one sites are fully funded. He said the other sites still need development approval, which he described as a key step towards securing funding.
An internal document shows the Tasmanian government was advised to approve a $20 million loan to Liberty Bell Bay, the country's only manganese smelter, despite high risk of not recovering all the money. The advice judged that doing nothing carried greater risk. The smelter closed in July and was liquidated, costing more than 200 jobs. Minister Felix Ellis said the government stood by its decision, saying the loan gave workers the best chance of a future. The smelter's administrator believes the company was insolvent from May 2025, though its directors declared solvency in August that year.
Pauline Hanson and Barnaby Joyce are touring Tasmania this week, meeting businesses and industries that One Nation says are struggling under state and federal policy. Hanson said Christmas should be celebrated in schools, and said those offended by a Trevallyn Primary School Christmas event were in the wrong country. Joyce said government policies were hurting industry and that rescue packages would not be needed if policies were changed. Hanson said the Bell Bay smelter, which recently received a federal bailout, was necessary. Tasmania's trend unemployment rate was 5.2% in September, the highest in the nation.
AU Now app
Your suburb’s news, alerts and Shorts — in one app
Alerts, Shorts and your saved stories — free on Google Play.
A $10 million loan from the Tasmanian government to the King Island tungsten mine, converted into shares, is now worth $75 million, the government revealed on Tuesday. Premier Jeremy Rockliff said the mine's revival had exceeded expectations. Of the windfall, $50 million will reduce state debt, $20 million will seed a regional fund to strengthen communities facing economic disruption, and $5 million will go to the island's school. The shares will be sold gradually, as Mr Rockliff said holding mining stock is not the government's role.
The Tasmanian government will create a $20 million Recovery Fund for Regional Resilience to help regional communities facing economic disruption. The money comes from returns on its $10 million investment in the Dolphin tungsten mine on King Island, which reopened in 2023 and is now owned by Group 6 Metals. Premier Jeremy Rockliff said the fund would help communities respond to major industry change, employer closures and workforce impacts. The government also said mine proceeds would go towards reducing the state's debt, which is estimated to peak at just under $10 billion by the end of the decade.
The Federal and Tasmanian governments have announced a five-year, 50:50 joint funding package worth $200 million for the Bell Bay Aluminium smelter. The funding will secure the plant's aluminium production and its 550 workers while a future funding strategy is developed. The smelter, owned by Rio Tinto, uses more than 25 per cent of Tasmania's electricity. Prime Minister Anthony Albanese said the investment supports workers, families and the region. Tasmanian Premier Jeremy Rockliff said the package gives certainty to local supply chain businesses.
AI company Firmus Technologies has cancelled its planned share market float on the Australian Securities Exchange due to weak demand. The company had aimed to raise $7 billion. Its three proposed Tasmanian AI data centres have faced community opposition, council appeals and delays, including a Launceston project now pushed back to early 2027. Firmus says its plans have not changed and that it has the money to proceed.
Data centre operator Firmus has withdrawn its share market float, disappointing some investors. In northern Tasmania, where Firmus planned three projects, the Environmental Awareness Association welcomed the news. The group had campaigned against the company's plans, citing concerns about noise, air pollution, and property value impacts. Firmus maintains it remains well-positioned to execute its plans, including in Tasmania. Premier Jeremy Rockliff has supported the company's projects in the state.
