Struggling metals smelters could receive taxpayer-backed equity injections and long-term loans under a national strategy the Albanese government is working up with states and industry to tackle multiple crises that threaten to shutter sites across the country.

Industry Minister Tim Ayres said while responsibility started with the very profitable firms who had done “very well” out of Australia, it was likely key smelters struggling to deal with soaring energy costs and trade distortions caused by oversupply from China, would need taxpayers’ support to survive.