Infrastructure
Tiwai Point smelter's annual net profit plummets amid volatile pricing
By Jenny Ruth June 4 (BusinessDesk) - The owner of New Zealand’s sole aluminium smelter says it has delivered a significantly lower profit for calendar 2018 and that it remains vulnerable to a volatile market this year. Pacific Aluminium (New Zealand), which is 80 percent-o...
Better protection needed for national infrastructure, pipeline inquiry told
By Gavin Evans June 4 (BusinessDesk) - The lack of sanctions for people damaging national infrastructure and covering it up needs to be addressed, Refining NZ chief executive Mike Fuge says. The company operates the Marsden Point oil refinery and its contractors use a combi...
Greymouth seeks early contact on partial Kowhai surrender
By Gavin Evans June 4 (BusinessDesk) - Greymouth Petroleum says it will meet with officials soon to arrange the surrender of part of its Kowhai petroleum mining permit in Taranaki. The High Court last week endorsed a condition of the original 2009 permit that required Greym...
Fletcher Building rejigs annual earnings guidance after completion of Formica sale
By Rebecca Howard June 4 (BusinessDesk) - Fletcher Building rejigged its full-year earnings before interest and tax guidance after completing the sale of its Formica business ahead of schedule, effectively lowering the top end of that guidance. The US$840 million sale of Fo...
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