South Port profit faces 22% hit when smelter closes

South Port profit faces 22% hit when smelter closes
Dan Brunskill
South Port New Zealand will look to aquaculture to fill a $2 million hole in its annual earnings that will be left when the Tiwai Point aluminum smelter closes next year.  The smelter makes up 33 percent of the Bluff port's cargo volume. However, the port doesn’t earn wharfage revenue for the raw material delivered to the smelter, which instead pays a licence fee for the wharf structure. South Port estimates the smelter contributes about $2 million, or roughly 22 percent, of net profit after tax. That excludes the fixed term licence fee w...

More Economy

NZers fear RBNZ's digital currency plan's privacy risks
Economy

NZers fear RBNZ's digital currency plan's privacy risks

The biggest concern about digital cash is the potential for Government control.

Rebecca Howard 10 Dec 2024
RBA set to keep rates steady while growth concerns linger
Finance

RBA set to keep rates steady while growth concerns linger

The central bank’s policy meeting is slated for Tuesday

Liquidated Sustainable Foods owed Kānoa $1.4m
Economy

Liquidated Sustainable Foods owed Kānoa $1.4m

Sustainable Foods joins the list of failed Kānoa-backed ventures.

Gregor Thompson 09 Dec 2024
Value of commercial property sales lowest in a decade
Economy

Value of commercial property sales lowest in a decade

The value of New Zealand commercial property has fallen 10% since the 2021 peak, after the sharp interest rate rises and weak economic activity of the past few years, Westpac says.The number of commercial property transactions has also fallen, with the value of sales dropping bel...

Maria Slade 09 Dec 2024