Rio Tinto reports $46.2m loss at Tiwai Point

Rio Tinto reports $46.2m loss at Tiwai Point
Gavin Evans
Rio Tinto reported a $46.2 million underlying loss from its New Zealand aluminium smelting interests in 2019 - despite near-record production.The company owns 79.4 percent of the Tiwai Point aluminium smelter, which produced 353,293 tonnes of saleable metal last year, the most since 2011.But lower aluminium prices and higher energy, labour and raw material costs saw underlying earnings at Rio’s Pacific Aluminium NZ business drop $67.8 million from the year before.The London-headquartered mining giant and partner Sumitomo Chemical are reviewing...

More Infrastructure

New directors appointed to NZ infrastructure boards
Infrastructure

New directors appointed to NZ infrastructure boards

New directors have been appointed to the boards of Crown Infrastructure Delivery (CID), National Infrastructure Funding and Financing (NIFFCo), and the New Zealand Infrastructure Commission.Infrastructure Minister, Chris Bishop, highlighted the expertise the new and reappointed d...

BD AI 1:22pm
'Meth' ministry moves: staffing data sought for four-way merger
Infrastructure

'Meth' ministry moves: staffing data sought for four-way merger

Work is progressing on a four-ministry merger with the pejorative nickname ‘Meth’.

Dileepa Fonseka 14 Oct 2025
Aratere sold for scrap, price deemed commercially sensitive
Infrastructure

Aratere sold for scrap, price deemed commercially sensitive

The Aratere ferry has been sold to a specialist recycling shipyard in India for an undisclosed amount.“Details of the sale price are commercially sensitive,” Duncan Roy, executive general manager of Interislander, said.  The ferry was retired last August to make way for the port...

Rebecca Howard 10 Oct 2025
Govt looks to put its Chorus investment on the block
Infrastructure

Govt looks to put its Chorus investment on the block

The finance minister said there's no policy reason for Govt to hold Chorus securities.

Rebecca Howard 10 Oct 2025