Sharechat Logo

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

Thursday 14th January 2021

Text too small?

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



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

24th September 2021 Morning Report
23rd September 2021 Morning Report
Pacific Edge Limited (NZX: PEB) Dual Lists on ASX; Announces Capital Raise to Accelerate
Tower Limited (NZX: TWR) Updates Guidance
South Port New Zealand Limited (NZX: SPN) 2021 Annual Report
22nd September 2021 Morning Report
Kathmandu Holdings Limited (NZX: KMD) FY21 Annual Results Announcement
Stride Property Ltd & Stride Investment Management Ltd (NZX: SPG) Update on Demerger and Office Fund
21st September 2021 Morning Report
Kiwi Property Group Limited (NZX: KPG) Gives Green Light to Build-to-Rent