NZAS records turnaround pre-Tiwai energy deal

NZAS has secured new 20-year energy agreements to continue operating its Tiwai Point smelter. (Image: Getty)

Fri, 07 Jun 2024

New Zealand Aluminium Smelters, fresh from its announcement last week that it had secured 20-year electricity agreements to guarantee the future of the Tiwai smelter, has posted a $59.9 million profit on $1.05 billion revenue for the year to Dec 2023. It marks a turnaround from the previous year when it reported a $68.8m net loss on the back of $829.6m revenue.The accounts, signed off by directors on March 28, 2024, gave no indication in the section itemising events after the reporting date that the deal with the three energy companie...

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