Rio Tinto’s aluminium shutdown plan halts NZ carbon price bull run

Published 07:05 on July 9, 2020  /  Last updated at 21:51 on July 9, 2020  /  Asia Pacific, New Zealand  /  No Comments

Rio Tinto is preparing to shut down New Zealand’s only aluminium smelter next year amid high energy costs and a poor industry outlook, it said on Thursday, a move that paused the rapid rise in NZ carbon prices as traders digested the prospect of the nation’s biggest electricity consumer closing.

Rio Tinto is preparing to shut down New Zealand’s only aluminium smelter next year amid high energy costs and a poor industry outlook, it said on Thursday, a move that paused the rapid rise in NZ carbon prices as traders digested the prospect of the nation’s biggest electricity consumer closing.

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