Meridian Energy Limited (NZX: MEL) Rio Tinto confirms Tiwai Exit in December 2024

Meridian Energy confirms that global mining giant Rio Tinto has accepted new contract terms offered by Meridian, effective from today, 14 January 2021 and will now be continuing operations at the NZAS Tiwai Point Aluminium Smelter through to December 2024.

Meridian Chief Executive, Neal Barclay says, “We have worked hard to provide solutions that we believe were of lasting value to the Smelter and acceptable to our shareholders. We’re pleased that Rio Tinto has accepted this offer, which will now provide certainty for the Southland community.”

“As a company we have planned for the eventual exit of the Tiwai Smelter. We’re excited about the opportunities that we have to accelerate decarbonisation, and we’re actively developing new growth opportunities.”

Chief Executive Neal Barclay will host a teleconference on Monday 18 January 2021. Details of the call will be provided later this week.

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

See the link below for more details:

Rio Tinto confirms Tiwai exit in December 2024: Meridian business update

Source: Meridian Energy Limited

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