BRIAN GAYNOR: Aluminium smelter reaches use by date

Sat, 11 Jul 2020

The negative market reaction to Rio Tinto’s announcement that it was winding down the Tiwai Point aluminium smelter was overdone, particularly for investors with long-term perspectives. The smelter was a great idea in the 1960s, when New Zealand was attempting to diversify away from its dependence on sheep products. But times have changed. The smelter has served its purpose for nearly 50 years, it is time to move on. There are better uses for electricity. Former Meridian Energy CEO Mark Binns best addressed this in his BusinessDesk col...

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