Rio Tinto has announced it intends to wind down operations at the NZ Aluminium Smelter, best known as the Tiwai Point aluminium smelter in just over a year's time.
In a statement to the Australian Stock Exchange, the company says its strategic review "has shown the business is no longer viable given high energy costs and a challenging outlook for the Aluminium industry".
It said in a statement it plans to wind down operations over the next 14 months.
