Mike Fuge: Contact Energy CEO on deal reportedly close with Rio Tinto over Tiwai Point

Uncertainty about the future of the Tiwai Point aluminium smelter looks likely to be resolved, with the owner ready to make a deal on its long-term contract. The smelter, near Bluff, is scheduled to close at the end of next year, after a review by the mining giant owner, Rio Tinto, decided its energy costs made it too expensive to run. Contact Energy CEO Mike Fuge told Mike Hosking discussions have been edging towards getting the owner to commit to staying for at least a decade. He says the goal is for discussions not to continue coming back to the same point. LISTEN ABOVESee omnystudio.com/listener for privacy information.