Rio Tinto Ltd has written $592.1 million off its Tiwai Point aluminium smelter in New Zealand, slashing its value to just $14.8 million. The smelter’s future is under a cloud as Rio seeks to sell it as part of a clutch of ageing Australasian aluminium production assets, packaged for sale as Pacific Aluminium.
See http://www.businessspectator.com.au/news/2013/6/13/resources-and-energy/rio-writes-592m-aluminium-smelter.