Weak aluminium prices won't help smelter

Rebecca Howard
Tue, 05 Nov 2019

Aluminium prices fell for another month as global mining giant Rio Tinto reviews the future of the Tiwai Point aluminium smelter, including possibly closing the site near Bluff.The ANZ commodity price index showed aluminium prices were the only locally produced raw material to fall in October, down 1.6 percent in October and 15 percent less than a year ago. The 48-year-old smelter is 79.4 percent-owned by Rio Tinto, which has been selling or shutting smaller, older plants worldwide to focus on its most profitable operations.The plant, whic...
MARKET CLOSE: NZ shares rise as vaccine trial boosts global sentiment
Dan Brunskill | Wed, 15 Jul 2020

New Zealand shares rose for a third day as investors welcomed interim results of a covid-19 vaccine trial which showed a positive immune response to the virus. The S&P/NZX 50 Index rose 116.38 poin...

NZ dollar stalls awaiting details of China response to US
Jenny Ruth | Wed, 15 Jul 2020

The New Zealand dollar was little changed as the market awaited China's response to the United States rejecting most of its claims in the South China Sea and after more hype about potential coronaviru...

Auckland Council needs to fill $750m shortfall
Brent Melville | Wed, 15 Jul 2020

Auckland Council is facing a "larger than expected" fiscal hole of $750 million this year, including a provision of $224 million to shore up its creaking water infrastructure. In announcing its dec...