LEADERSHIP

Rio reaches agreement on smelter

Deal extends the life of Tiwai Point

Staff reporter

This article is 4 years old. Images might not display.

Rio announced last year the smelter would close by the middle of 2021.

The company said today the extension provided certainty to the smelter's 1000 employees, the local community and customers, while providing more time for all stakeholders to plan for the future.

Rio said the new agreement with Meridian would make the smelter economically viable and competitive over the next four years.

Discussions continue with the NZ government over the smelter's high transmission costs.

The extension also provides time for detailed closure studies to be completed and for NZAS to support the government and Southland community in planning for the future.

"We are pleased to have reached an agreement with Meridian Energy that will enable the Tiwai Point smelter to continue producing some of the lowest carbon aluminium in the world," Rio Tinto Aluminium chief executive Alf Barrios said.

"This agreement improves Tiwai Point's competitive position and secures the extension of operation to December 2024.

"It also provides Rio Tinto, the New Zealand government, Meridian, and the Southland community more time to plan for the future and importantly gives our hard-working team at Tiwai and our customers the certainty they deserve."

NZAS is a joint venture between Rio Tinto (79.36%) and Sumitomo Chemical Company (20.64%).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2025

The MNN Research Report 2025 provides insights into critical mining themes in Australia/Oceania, including top projects, C-suite priorities, risk, ESG performance and investor sentiment.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.