The New Zealand Herald
Update-Few firms big enough to consider Tiwai
Edited by : AL CIRCLE
1 min read
The future sale of Tiwai Point aluminium smelter near Bluff - one of seven separate assets being bundled into a new company by mining giant Rio Tinto - could become the focus of Chinese investment or stock-exchange listing.
The Tiwai smelter is one of the country's largest single exporters by value and has provided hundreds of jobs in Southland during the past 40 years, manufacturing some of the highest-purity aluminium available in the world.
Bids worth billions of dollars will be sought by Rio Tinto for the assets of the new company, Pacific Aluminium, which will encompass, with Tiwai Point, the Gove bauxite mine and alumina refinery; Boyne Smelters and its associated Gladstone Power Station; the Tomago smelter; and the Bell Bay smelter, all in Australia.
Research by Craigs Investment Partners indicates Tiwai has a value of around $1.4 billion while all seven assets under the new Pacific Aluminium umbrella are valued at almost US$7 billion ($8.7 billion).
The Tiwai smelter is one of the country's largest single exporters by value and has provided hundreds of jobs in Southland during the past 40 years, manufacturing some of the highest-purity aluminium available in the world.
Bids worth billions of dollars will be sought by Rio Tinto for the assets of the new company, Pacific Aluminium, which will encompass, with Tiwai Point, the Gove bauxite mine and alumina refinery; Boyne Smelters and its associated Gladstone Power Station; the Tomago smelter; and the Bell Bay smelter, all in Australia.
Research by Craigs Investment Partners indicates Tiwai has a value of around $1.4 billion while all seven assets under the new Pacific Aluminium umbrella are valued at almost US$7 billion ($8.7 billion).
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