Rio Tinto's Tiwai Point triples annual earnings on stronger metal prices

Wed, 30 May 2018

By Paul McBeth May 31 (BusinessDesk) - Rio Tinto's Pacific Aluminium (New Zealand) unit tripled annual earnings from its controlling stake in the aluminium smelter at Tiwai Point on stronger metal prices, although it anticipates higher transmission costs from reopening a mothballed potline. The local division of global mining group Rio Tinto, which owns 79 percent of New Zealand Aluminium Smelters, said underlying earnings were $75 million in calendar 2017, up from $25 million a year earlier. That reflected higher aluminium prices, which...

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