Tiwai Point smelter's annual net profit plummets amid volatile pricing

Tue, 04 Jun 2019

By Jenny Ruth June 4 (BusinessDesk) - The owner of New Zealand’s sole aluminium smelter says it has delivered a significantly lower profit for calendar 2018 and that it remains vulnerable to a volatile market this year. Pacific Aluminium (New Zealand), which is 80 percent-owned by Rio Tinto with Sumitomo owning the rest, says the Tiwai Point smelter showed underlying earnings of $22 million for 2018, down from $53 million the previous year. “The result reflects that during 2018, the operating environment became significantly more chall...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket lifts as Skellerup update builds confidence

The S&P/NZX 50 Index closed up 0.53% or 70.66 points to 13,377.10.

Tom Raynel 23 Oct 2025

Law & Regulation

Northland telco fights OneNZ–Uber deal

‘Quite cynical incursion’: Northland telco fights OneNZ–Uber partnership in court.

Garth Bray 23 Oct 2025

Markets

Skellerup eyes US expansion to dodge tariffs

Chair warns rubber manufacturer may need to make significant investment in US.

Rebecca Stevenson 23 Oct 2025

Skellerup eyes US expansion to dodge tariffs

Sponsored

NZ risks losing edge as Australia takes lead in cleaner jet fuel

Experts warn SAF delay could cost jobs and growth.

Z Energy

Sponsored

Focus on safety of SME vehicle fleets

Vehicle glass repairer’s work enhances road safety.

Smith & Smith

More Infrastructure

Infrastructure

Wellington Airport's half-year passenger numbers down, net loss up

Staff reporters 23 Oct 2025

Infrastructure

Marsden Maritime Holdings CEO Rosie Mercer standing down

Marsden Maritime Holdings' chief executive, Rosie Mercer, is stepping down at the end of the year.After three years in the job, she said the decision was a natural transition point for her and the company, as Marsden Maritime Holdings (MMH) was in a strong position and well-p...

Ian Llewellyn 23 Oct 2025