Government intervenes after Rio Tinto pressure on smelter power contracts

Wed, 27 Mar 2013

By Pattrick Smellie March 28 (BusinessDesk) - The New Zealand government is offering unspecified assistance to keep the Bluff aluminium smelter open in the short term, a move which could save next month's float of MightyRiverPower, but blows away its hands-off policy on state-owned companies' commercial affairs. In a statement this morning, State-Owned Enterprises Minister Tony Ryall said the government became involved in direct negotiations with the smelter's majority owners, Rio Tinto, within the last few days, which have not involved the...

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