Rio Tinto is practising further brinkmanship and have reportedly sent in a closure team to assess the viability of Tiwai Point and no doubt seek a Government handout. Is it time to say no and provide cheaper cleaner power to the country instead?
A brief analysis of a number of deals that National has negotiated suggests that its reputation as a supposedly tough dealmaker is misplaced.
Rio Tinto has delayed the signing of an electricity supply agreement with Meridian Energy by a month giving rise to the possibility that more corporate welfare will be demanded from the Government.
Yesterday John Key gave $30 Million of tax payer’s money to Rio Tinto in order to prop up its electricity deal with Meridian – and thus to prop up his privatisation ideology. Mighty River Power shares took a hit. Smart investors getting out?
Our “let’s make a deal” PM is outclassed on this one. I actually have some sympathy this time, the government is between a rock and a hard place. But while most of us worry about Southland, I suspect the Nats’ concerns will be a little closer to home…
Rio Tinto’s threat of capital strike appears to have backfired on them, with a political consensus emerging that the multinational has overplayed its […]
Multi-national minerals company Rio Tinto is threatening to close its Tiwai Point aluminium smelter in Bluff and move its production offshore if the […]
