{"id":414362,"date":"2021-01-13T14:03:38","date_gmt":"2021-01-13T19:03:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=414362"},"modified":"2021-01-13T14:03:38","modified_gmt":"2021-01-13T19:03:38","slug":"nzas-reaches-deal-with-meridian-to-extend-operations-to-2024","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nzas-reaches-deal-with-meridian-to-extend-operations-to-2024\/","title":{"rendered":"NZAS reaches deal with Meridian to extend operations to 2024"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>NZAS reaches deal with Meridian to extend operations to 2024<\/b><\/p>\n<p>MELBOURNE, Australia&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nRio Tinto has reached an agreement on a new electricity agreement with Meridian Energy that allows New Zealand\u2019s Aluminium Smelter (NZAS) to continue operating the Tiwai Point aluminium smelter until December 31, 2024. The extension provides certainty to employees, the local community and customers while providing more time for all stakeholders to plan for the future.\n<\/p>\n<p>\nWhile discussions with the New Zealand government are progressing in relation to their commitment to address the smelter\u2019s 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.\n<\/p>\n<p>\nThe extension also provides time for detailed closure studies to be completed and for NZAS to support the government and Southland community in planning for the future. Plans for eventual closure of the Tiwai Point smelter will include extensive stakeholder consultation, including within the Southland community and reflect the company\u2019s robust closure and remediation standards.\n<\/p>\n<p>\nRio Tinto Aluminium chief executive Alf Barrios said \u201cWe are pleased to have reached an agreement with Meridian Energy that will enable the Tiwai Point smelter to continue producing some of the lowest carbon aluminium in the world. This agreement improves Tiwai Point\u2019s competitive position and secures the extension of operation to December 2024. It also provides Rio Tinto, the New Zealand government, Meridian, and the Southland community more time to plan for the future and importantly gives our hard-working team at Tiwai and our customers the certainty they deserve.\u201d\n<\/p>\n<p>\nIn July 2020, Rio Tinto announced the conclusion of a strategic review of the smelter and a decision to wind down operations by August 2021 due to high energy and transmission costs.\n<\/p>\n<p>\nNZAS is a joint venture between Rio Tinto (79.36%) and Sumitomo Chemical Company Limited (20.64%). It employs around 1000 people directly and creates a further 1600 indirect jobs in Southland.<i \/><\/p>\n<p>\nThis announcement is authorised for release to the market by Rio Tinto\u2019s Group Company Secretary.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210113005815r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210113005815\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210113005815\/en\/<\/a><\/span><\/p>\n<p><a rel=\"nofollow\" href=\"mailto:media.enquiries@riotinto.com\">media.enquiries@riotinto.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.riotinto.com&amp;esheet=52361168&amp;newsitemid=20210113005815&amp;lan=en-US&amp;anchor=riotinto.com&amp;index=1&amp;md5=fa1d4916bd3caa910ba529d5c3fcbd23\">riotinto.com <\/a><\/p>\n<p>\nFollow @RioTinto on Twitter\n<\/p>\n<p><b>Media Relations, New Zealand<br \/>\n<\/b><br \/>Jen Nolan<br \/>\n<br \/>+64 21 381 981\n<\/p>\n<p><b>Media Relations, United Kingdom<br \/>\n<\/b><br \/>Illtud Harri<br \/>\n<br \/>M +44 7920 503 600\n<\/p>\n<p>\nDavid Outhwaite<br \/>\n<br \/>T +44 20 7781 1623<br \/>\n<br \/>M +44 7787 597 493\n<\/p>\n<p><b>Media Relations, Americas<br \/>\n<\/b><br \/>Matthew Klar<br \/>\n<br \/>T +1 514 608 4429\n<\/p>\n<p><b>Media Relations, Asia<br \/>\n<\/b><br \/>Grant Donald<br \/>\n<br \/>T +65 6679 9290<br \/>\n<br \/>M +65 9722 6028\n<\/p>\n<p><b>Media Relations, Australia<br \/>\n<\/b><br \/>Jonathan Rose<br \/>\n<br \/>T +61 3 9283 3088<br \/>\n<br \/>M +61 447 028 913\n<\/p>\n<p>\nMatt Chambers<br \/>\n<br \/>T +61 3 9283 3087<br \/>\n<br \/>M +61 433 525 739\n<\/p>\n<p>\nJesse Riseborough<br \/>\n<br \/>T +61 8 6211 6013<br \/>\n<br \/>M +61 436 653 412\n<\/p>\n<p><b>Investor Relations, United Kingdom<br \/>\n<\/b><br \/>Menno Sanderse<br \/>\n<br \/>T: +44 20 7781 1517<br \/>\n<br \/>M: +44 7825 195 178\n<\/p>\n<p>\nDavid Ovington<br \/>\n<br \/>T +44 20 7781 2051<br \/>\n<br \/>M +44 7920 010 978\n<\/p>\n<p>\nClare Peever<br \/>\n<br \/>M: +44 7788 967 877\n<\/p>\n<p><b>Investor Relations, Australia<br \/>\n<\/b><br \/>Natalie Worley<br \/>\n<br \/>T +61 3 9283 3063<br \/>\n<br \/>M +61 409 210 462\n<\/p>\n<p>\nAmar Jambaa<br \/>\n<br \/>T +61 3 9283 3627<br \/>\n<br \/>M +61 472 865 948\n<\/p>\n<p><b>Rio Tinto plc<br \/>\n<\/b><br \/>6 St James\u2019s Square<br \/>\n<br \/>London SW1Y 4AD<br \/>\n<br \/>United Kingdom<br \/>\n<br \/>T +44 20 7781 2000<br \/>\n<br \/>Registered in England<br \/>\n<br \/>No. 719885\n<\/p>\n<p><b>Rio Tinto Limited<br \/>\n<\/b><br \/>Level 7, 360 Collins Street<br \/>\n<br \/>Melbourne 3000<br \/>\n<br \/>Australia<br \/>\n<br \/>T +61 3 9283 3333<br \/>\n<br \/>Registered in Australia<br \/>\n<br \/>ABN 96 004 458 404=\n<\/p>\n<p>\nCategory: general\n<\/p>\n<p><b>KEYWORDS:<\/b> Australia\/Oceania New Zealand Australia<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Energy Natural Resources Utilities Mining\/Minerals<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210113005815\/en\/756940\/3\/Rio_Tinto_logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>NZAS reaches deal with Meridian to extend operations to 2024 MELBOURNE, Australia&#8211;(BUSINESS WIRE)&#8211; Rio Tinto has reached an agreement on a new electricity agreement with Meridian Energy that allows New Zealand\u2019s Aluminium Smelter (NZAS) to continue operating the Tiwai Point aluminium smelter until December 31, 2024. The extension provides certainty to employees, the local community and customers while providing more time for all stakeholders to plan for the future. While discussions with the New Zealand government are progressing in relation to their commitment to address the smelter\u2019s 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. The extension also provides &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nzas-reaches-deal-with-meridian-to-extend-operations-to-2024\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;NZAS reaches deal with Meridian to extend operations to 2024&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-414362","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NZAS reaches deal with Meridian to extend operations to 2024 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nzas-reaches-deal-with-meridian-to-extend-operations-to-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NZAS reaches deal with Meridian to extend operations to 2024 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NZAS reaches deal with Meridian to extend operations to 2024 MELBOURNE, Australia&#8211;(BUSINESS WIRE)&#8211; Rio Tinto has reached an agreement on a new electricity agreement with Meridian Energy that allows New Zealand\u2019s Aluminium Smelter (NZAS) to continue operating the Tiwai Point aluminium smelter until December 31, 2024. The extension provides certainty to employees, the local community and customers while providing more time for all stakeholders to plan for the future. While discussions with the New Zealand government are progressing in relation to their commitment to address the smelter\u2019s 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. 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The extension provides certainty to employees, the local community and customers while providing more time for all stakeholders to plan for the future. While discussions with the New Zealand government are progressing in relation to their commitment to address the smelter\u2019s 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. 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