Rio Tinto to close New Zealand smelter, 1,000 jobs to go

WELLINGTON: Anglo-Australian mining giant Rio Tinto announced Thursday it will close its New Zealand smelter with the loss of at least 1,000 jobs, saying the operation is no longer economically viable.

New Zealand Aluminium Smelters, the largest employer in the southern New Zealand province of Southland, lost NZ$46 million ($30 million) last year. A strategic review by Rio Tinto found the factory was no longer viable "due to energy costs that are some of the highest in the industry globally, coupled with a challenging short- to medium-term aluminium outlook", the company said in a statement.