Markets

Soaring aluminium prices earn Tiwai's owners $1b in revenue

Ian Llewellyn
Thu, 26 May 2022

Soaring aluminium prices earn Tiwai's owners $1b in revenue
Escalating aluminium prices make Tiwai a nice little earner. (Image: Getty)
Ian Llewellyn
Thu, 26 May 2022
The Tiwai Point aluminium smelter has nearly doubled the amount put aside to remediate the site as the wider accounts show the benefit of soaring commodity prices and its owner’s revenue crosses the $1 billion mark.New Zealand Aluminium Smelters' (NZAS) results for the 12 months to Dec 31 2022 increase the remediation and closure provision from $352 million to $687m.This provision covers identified costs relating to remediating the site, such as removing waste including spent cathode lining, demolishing site infrastructure and relocat...

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