Rio Tinto decision following strategic review of Tiwai
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Rio Tinto decision following strategic review of Tiwai
smelter
9 July 2020 – Mercury notes Rio Tinto’s announcement to wind-down operations at New Zealand
Aluminium Smelters Limited (NZAS) with expected closure in August 2021.
Mercury reiterates previously made statements that it is relatively well placed to respond to the decision to close the smelter,
with all of its renewable generation assets in the North Island close to load centres and largely free of major transmission
constraints as a consequence of reduced South Island electricity demand.
Mercury is confident that the sector will adapt to the closure of the smelter, invest in new transmission and develop new
electricity demand to rebalance New Zealand’s electricity system.
Howard Thomas
General Counsel and Company Secretary
Mercury NZ Limited
For investor relations queries, please contact:
Tim Thompson
Head of Treasury and Investor Relations
0275 173 470
For media queries, please contact:
Craig Dowling
Head of Communications
027 210 5337
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ways and our goal is to be New Zealand’s leading energy brand. We focus on our customers, our people, our
partners and our country; maintain a long-term view of sustainability; and promote wonderful choices. Mercury is
energy made wonderful. Visit us at: www.mercury.co.nz
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Other issuers discussed similar conditions around this time
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- MEL — Meridian Energy Limited: Rio Tinto gives contract termination notice to Meridian2020-07-08
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- MEL — Meridian Energy Limited: Meridian Energy Limited 2020 Full Year Financial Results2020-08-25
“Rio Tinto to exit New Zealand In October 2019 Rio Tinto announced that it was undertaking a strategic review of New Zealand’s Aluminium Smelter at Tīwai Point in Southland. On 9 July 2020, Rio Tinto announced the termination of its contract with Meridian and its intention t…”
- MEL — Meridian Energy Limited: Meridian Energy Limited Annual Shareholder Meeting2020-09-30
“Page 8 of 11 The generation trading conditions in Australia throughout the year were also very challenging. Wholesale electricity prices trended down as oil prices and then gas prices collapsed. And generation volumes from our hydro assets were down year on year due to the d…”