According to reports, Rio Tinto might compress or close the New Zealand Aluminum Smelter (NZAS), and the specific reason might be due to the weakness of the aluminum market and the increase in energy costs.
It was reported that Rio Tinto believed that the aluminum industry is facing huge resistance, so it announced that it will cut its annual aluminum production target. In addition, Rio Tinto said its power supply contract with New Zealand's Meridian Energy Limited will end in 2030.
Rio Tinto reckoned that in this economic environment, the smelter in New Zealand has little economic benefit and should be closed as soon as possible.
Rio Tinto considers compressing or closing New Zealand Aluminum Smelter
24 Oct 2019 14:18 reported by Felix
- A
- A
- A