New Zealand smelter under review
(Posted on 28/10/19)
Rio Tinto will conduct a strategic review of its interest in New Zealand’s Aluminium Smelter (NZAS) at Tiwai Point, to determine the operation’s ongoing viability and competitive position.
Under current market conditions and with high energy costs, we expect the short to medium outlook for the aluminium industry to be challenging and this asset to continue to be unprofitable. Rio Tinto intends to hold discussions with the Government of New Zealand and energy providers to explore options and identify economically viable solutions to find a pathway to profitability for the asset.
Rio Tinto Aluminium chief executive Alf Barrios said “The aluminium industry is currently facing significant headwinds with historically low prices due to an over-supplied market. This means that many aluminium providers are reviewing their positions.
“Rio Tinto will work with all stakeholders including the government, suppliers, communities and employees in order to find a solution that will ensure a profitable future for this plant.”
The strategic review will consider all options, including curtailment and closure and will be complete in the first quarter in 2020.
NZAS is a joint venture between Rio Tinto (79.36%) and Sumitomo Chemical Company Limited (20.64%) and employs around 1000 people.
Latest News
ADM and Mitsubishi form strategic agriculture supply chain alliance
(Posted on 01/04/25)ADM and Mitsubishi Corporation have signed a non-binding memorandum of understanding to form a strategic... Read more
ESL Shipping and SSAB extend cooperation in raw material transports
(Posted on 27/03/25)ESL Shipping and global steel manufacturer SSAB have agreed on a multi-year extension of the agreement... Read more
Sakatti copper project in Finland awarded ‘Strategic Project’ status by EU
(Posted on 27/03/25)Anglo American’s Sakatti copper and polymetallic project in Finland has been designated as a &... Read more
FEFAC calls for targeted transatlantic feed trade agreement
(Posted on 18/03/25)FEFAC, representing the EU compound feed and premix manufacturers, noted with deep concern the announced... Read more
Cargill inaugurates new corn milling plant in Gwalior, India
(Posted on 18/03/25)Catering to the growing demand from India’s confectionery, infant formula, and dairy sectors,... Read more
Metal Park launches storage hub in KEZAD
(Posted on 12/03/25)Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose... Read more
Rio Tinto to invest $1.8bn to develop Western Australia Brockman mine
(Posted on 06/03/25)Rio Tinto will invest $1.8 billion1 to develop the Brockman Syncline 1 mine project (BS1), extending... Read more
Canadian steel industry denounces tariffs on Canada
(Posted on 04/03/25)Catherine Cobden, President and CEO of the Canadian Steel Producers Association (CSPA), has released... Read more
Study: Enough scrap to meet rising U.S. demand for recycled steel
(Posted on 04/03/25)Enough domestic ferrous scrap is available for electric arc furnace (EAF) steelmakers to supply nearly... Read more
Cargill and Hafnia launch Seascale Energy
(Posted on 01/03/25)Cargill’s Ocean Transportation business and leading tanker shipping company, Hafnia, have joined... Read more
