Queenstown entrepreneur plans to save Tiwai Aluminium smelter in NZ

Basil Walker, a Queenstown entrepreneur stated that he is standing as an independent candidate in the Invercargill electorate at the September’20 general election on a platform of trying to save the Tiwai aluminium smelter from closing.

Walker said: “The main issue facing the smelter was the high transmission costs it faced.”

The Queenstown entrepreneur desired a New Zealand entity, yet to be determined, to acquire the smelter and buy the Transpower transmission lines, which take electricity from the Manapouri power station to the smelter, so the transmission costs could be reduced by tens of millions of dollars.

“That would bring the smelter into profitability,’’ he said.

As per Walker in 2017 he conveyed the idea to Rio Tinto and “they never said go away’’.

“In the past couple of months, before the closure announcement, he had told Rio Tinto the proposal was still the same”, he said.

“They referred me back to their Auckland solicitor and he said to only contact Rio Tinto through his office.’’

Walker said: “Rio Tinto would need to pay hundreds of millions to tear down the smelter site and remediate it after stopping production.”

“If Rio Tinto wants to walk away, there is a solution without them spending all that money to knock it down.”

“I am saying, don't do that, just let us take it over, keep your money and we will have the smelter, it’s a very simple proposal.’’

He concluded by saying: “Issues that needed to be worked through on his proposal included who the partners in the new entity would be, what type of arrangement it would be and whether Rio Tinto would want to supply the bauxite from Australia.”