EVAN WALLACE, HOST: It is a role he has held for a little over a week. The Minister for Industry and Innovation. And this potentially is the first significant drama, the first significant hot flare, hot flame that he has had to respond to. Minister, good afternoon to you.

SENATOR TIM AYRES, MINISTER FOR INDUSTRY AND INNOVATION AND MINISTER FOR SCIENCE: Oh, g'day. It's good to be on the show.

WALLACE: Now, yesterday you called on Bell Bay's owner, GFG Alliance to deliver transparency on the smelter's operations. Does that mean they're not being transparent, Minister?

AYRES: Well, it's certainly the case, as you indicated in your introduction, that I want to make sure we take a methodical and systematic approach to this set of questions. And I really do think that the first step, it's common sense, is that Liberty Bell Bay and their parent company front up to the Tasmanian Government with a clear explanation, supported by evidence, about what is actually going on here, what the real commercial position of the company is and what their plan is to resume production in a stable and orderly way? I think that's what Tasmanians would expect. That's certainly what their employees and their customers would expect.

WALLACE: We're hearing a lot of reasons why the smelter is entering limited operations. We've heard about ore supply issues, global volatility, and the state of GFG's finances. Is it a simple case of GFG simply running out of cash, Minister?

AYRES: Well, that remains to be seen. I'm not trying to avoid the question here. It's absolutely fundamental that they front up. They have received the support of the Tasmanian community for many, many decades. They've received support of successive governments. They owe it to the community and to their customers in the steel industry in Australia and overseas, to be really clear about what has driven this decision to suspend production and what is required to resume production in an orderly way. That has not happened to date. And the Commonwealth Government, the Albanese Government is providing support to the Tasmanian Government, a rapid assessment team here to support Premier Rockliff and his important work in working with Liberty Bell Bay to establish a clear plan to resume production. That's where we're at today. We'll provide support, have provided support over the last few days, and in the coming days to make sure that work happens. It's really up to Liberty Bell Bay now to front up in Hobart, open books, clear and transparent explanations to the Tasmanian Government and to roll their sleeves up and get these people back to work.

WALLACE: I want to get to the role of that rapid assessment team in just a moment, but before we look at that. Minister, surely this is more than just a supply chain issue. We're hearing that mentioned as a key factor as to why the smelter is entering this period of limited operations. But if you have a Premier asking for an intervention from the Federal government, if you've set up a rapid assessment team, this is a more complex issue than just the fact that it's been difficult to get ore over the last year, isn't it?

AYRES: Well, I don't want to make pronouncements about what has happened here. In the absence of having a clearly verifiable set of facts, I think that's what your listeners would expect. There's absolutely some urgency and I share the Tasmanian Government's sense of urgency about dealing with this set of questions. Workers I know at the plant and the customers and suppliers of this business have got a right to expect full transparency, sleeves rolled up, get a plan to get people back to work. I haven't seen that in evidence yet and that's what I want to see. And you know, I'm reluctant to offer commentary in the absence of that evidence.

WALLACE: I'm chatting with Tim Ayres, who is Australia's Minister for Industry and Innovation, also the Minister for Science, a role that he's been in for just over a week. We're talking about the decision by the GFG Alliance to send Liberty Bell Bay into a period of limited operations. Minister, you mentioned there that you've established a rapid assessment team. What exactly is that team looking at?

AYRES: Well, it means that there'll be experts from the Department of Industry working to support the Tasmanian State Government's work here and make sure there is a clear line of communication – I think Tasmania and Canberra are on the same page here. This is an important facility. It plays an important role in employment and social terms and industrial terms in northern Tasmania. But it's a significant national asset as part of our national steel industry, processing Australian ore, processed by Tasmanians in northern Tasmania for the Australian steel industry and for our customers overseas. So, it's an important asset and we are providing experts and key officials to make sure that the flow of information between the two governments leads to good decision making here in the interest of Tasmanians and in the national interest.

WALLACE: When we talked before the election, I don't believe you were aware of any key issues facing Liberty Bell Bay. The focus and the concentration was very much on Whyalla and the two were seeing as being separate from one another. When did this change?

AYRES: Well, they are separate. Of course, they have the same parent company and the Federal Government in conjunction with the South Australian Government have intervened together putting significant Commonwealth and state resources into the Whyalla steel facilities. But this is a business that has access to Australian ore, that has access to customers who are market to purchase processed product in Port Kembla and Whyalla and around the world. It is obvious to the Commonwealth Government, it has been for some time. We're paying very close attention to a range of these facilities around Australia, of course, as part of our ordinary work. But it was when Liberty Bell Bay fronted up to the Tasmanian Government and Premier Rockliff has picked up the phone and written to us that we'd become fully engaged on these questions as it became apparent that announcements were going to be made in Bell Bay yesterday.

WALLACE: And will the Federal Government step in and bankroll Liberty Bell Bay if it turns out that this is much more than a supply chain issue? If there are underlying cash flow problems that require additional funding?

AYRES: Well, I can't speculate on a hypothetical, and I think your listeners would know it's common sense not to do that. This is right now, the best outcome here, is a commercial outcome where Liberty Bell Bay front up to their responsibilities and their owners front up to their responsibilities and make sure there is a clear plan of work to resume full production. That's what I want to see. That's what the Tasmanian Government wants to see. There should be no reason why that can't occur at the same time as transparency is provided to the Government of Tasmania about the real business conditions that the firm finds itself in. I think that's common sense. That's what we're going to focus on in a disciplined and methodical way.

WALLACE: Tim Ayres, thanks so much for your time. I know that you need to get back to briefing, so thanks for being part of the conversation on ABC Northern Tasmania Drive.

AYRES: Thanks. No doubt we'll be talking about this soon.

WALLACE: That is the Federal Minister for Industry and Innovation, Tim Ayres. He said that a rapid assessment team has been established to look into the situation at Bell Bay and he's called on GFG Alliance to be more transparent. Essentially saying that they, to paraphrase, need to get their house in order, need to be providing data, need to be providing key information so critical decisions about the future of operations at the Bell Bay smelter can be made.