[Rio Tinto reached agreement to extend the term of the Tiwai Point aluminum smelter in New Zealand] Rio Tinto said in a statement on Thursday that the smelter in the southern South Island of New Zealand would be closed in December 2024 instead of August this year. Discussions are still under way with the Government of New Zealand on the cost of transmission and the final outcome of the site of the smelter.
Rio Tinto Deal Keeps New Zealand Aluminium Smelter Running Until 2024
Thu, 14th Jan 2021 08:46
(Alliance News) - Miner Rio Tinto PLC on Thursday said it struck a deal to allow an aluminium smelter in New Zealand to continue operating for roughly another four years.
Rio said it reached an agreement with Meridian Energy, an electricity generator, to allow the New Zealand s Aluminium Smelter joint venture to continue operating the Tiwai Point aluminium smelter until December 31, 2024.
The NZAS joint venture, of which Rio Tinto owns just over 79%, operates the Tiwai Point site in Southland region of New Zealand. Japan s Sumitomo Chemical Co Ltd holds the remaining stake in NZAS.
Rio Tinto’s New Zealand Aluminium Smelter (NZAS) in Tiwai Point will continue to operate until December 31, 2024 after reaching an electricity agreement with Meridian Energy, the producer said on Wednesday January 13.
Rio Tinto’s New Zealand Aluminium Smelter (NZAS) in Tiwai Point will continue to operate until December 31, 2024, after reaching an electricity agreement with Meridian Energy, the producer said on Wednesday January 13.
Contact says extension for NZAS is good news
Contact Energy ( Contact ) CEO Mike Fuge welcomed the news that the life of New Zealand s Aluminium Smelter ( NZAS ) at Tiwai Point will be extended until at least the end of 2024 while an economic transition for Southland is developed. Today s announcement of the deal between Meridian and NZAS ensures sustainable smelter operations in the medium term and allows time to plan for an ultimate exit of New Zealand s largest energy user. This is great news for Southland and New Zealand, global carbon emissions, and Contact s shareholders.
As part of the arrangement announced today, Contact has agreed to supply Meridian Energy with a portion of the electricity required to power the NZAS smelter at Tiwai Point. Contact will provide an average of 100 megawatts of baseload electricity through until the end of 2024 (assuming the smelter requires 572 megawatts of electricity).