The Australian Labour Party says the federal government should encourage Alcoa to keep its operations in Australia.
AAP reports Alcoa has not decided on the future of the Point Henry smelter in Victoria, but has ruled out asking for more government funding.
ALP leader Bill Shorten said in Melbourne the government should provide policy certainty to encourage the company to keep its operations in Australia.
After decades of electricity subsidies, assistance to the company in 2012 was $A44 million.
The closure of Point Henry would put 500 people out of work.
Alcoa generated significant export revenue for Australia, significant jobs and significant taxes paid by employees to the government, Mr Shorten said.
"We need to get behind our manufacturers and recognise that as the dollar comes down we want to make sure there's still some manufacturing in Australia to take advantage of Australian skills."
