Tiwai Pt’s $18M loss
PA Invercargill The Tiwai Point aluminium smelter had a good year last year, the chairman of directors of New Zealand Aluminium Smelters, Ltd, Mr Mark Rayner, has announced. Although NZAS reported a loss of SIB.IM for the calendar year, the loss was not a measure of the performance of the smelter, Mr Rayner said. “The fee is calculated to recover only the tax deductible costs of operating, commissioning, and financing the aluminium smelter, i.e. the costs of materials, labour and certain financing and depreciation items,” Mr Rayner said. Last year, as in 1982, there were significant non-tax-de-ductible costs resulting mainly from the unfavourable movement of the New Zealand dollar to the United States dollar and the Japanese yen. Production of saleable metal was 218,609 tonnes, an increase of 33.8 per cent over the previous year.
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Press, 12 May 1984, Page 23
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139Tiwai Pt’s $18M loss Press, 12 May 1984, Page 23
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