Mercury NZ Limited (NZX: MCY) Tiwai to continue operations through 2024

Mercury notes Rio Tinto’s announcement that it has agreed a new electricity agreement with Meridian Energy that allows the continued operation of the Tiwai Point aluminium smelter until December 31, 2024.

Rio Tinto stated that: “While discussions with the New Zealand government are progressing in relation to their commitment to address the smelter’s high transmission costs, a new agreement has been reached with Meridian Energy in relation to power prices, making the smelter economically viable and competitive over the next four years.”

See the link below for more details:

Tiwai to continue operations through 2024

Source: Mercury NZ Limited

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