Forging a greener future: NZ Steel to commission electric arc furnace from December

Forging a greener future: NZ Steel to commission electric arc furnace from December
NZ Steel is installing an electric arc furnace at its Glenbrook steelworks. (Image: NZ Steel)
Oliver Lewis
New Zealand Steel is on track to start commissioning its $300-million electric arc furnace project this December, a major milestone for an initiative that will single-handedly slash national carbon emissions by around 1%.Parts of the furnace, designed and supplied by Italian firm Danieli, started coming across the wharves at Port of Auckland in recent months for transportation to the NZ Steel steelworks at Glenbrook. The project, a beneficiary of up to $140m of funding through the now-discontinued Government Investment in Decarbonising Ind...

More Economy

High bar for July rate cut – ASB
Economy

High bar for July rate cut – ASB

July cut can't be ruled out but there is value in waiting, ASB says. 

Rebecca Howard 04 Jun 2025
RBNZ expects rates to go lower
Economy

RBNZ expects rates to go lower

The central forecast and the two alternatives all have rates dipping below 3%. 

Rebecca Howard 03 Jun 2025
RBNZ 25bps rate cut wasn't unanimous
Economy

RBNZ 25bps rate cut wasn't unanimous

The vote was 5 to 1 to cut by 25 basis points. 

Rebecca Howard 28 May 2025
RBNZ cuts, signals more to come
Economy

RBNZ cuts, signals more to come

Risks around the economic outlook are heightened. 

Rebecca Howard 28 May 2025