Tiwai Point unlikely to close despite shut-down clause
The aluminium smelter at Tiwai Point, near Invercargill, is not expected to take advantage of a shut-down clause that has just become available to it, sources have told RNZ.
The smelter's owners have the right to terminate an agreement with electricity supplier Meridian Energy from 2018, as long as it gives one year's notice. Sunday was the first day New Zealand Aluminium Smelters could give notice.
A slight improvement in the price of aluminium last year and a decline in the New Zealand dollar were positive for NZAS.
The smelter, majority owned by Rio Tinto's Pacific Aluminium, employs 800 people.
* Audio courtesy of RNZ