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Giant write-down

Rio Tinto, the majority owner of the Tiwai Point aluminium smelter in New Zealand, has written down the value of the asset to just $NZ14.8 million from $NZ606.9 million. The decision was made in February but was disclosed with the lodging of accounts for Rio Tinto Alcan NZ.
By · 14 Jun 2013
By ·
14 Jun 2013
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Rio Tinto, the majority owner of the Tiwai Point aluminium smelter in New Zealand, has written down the value of the asset to just $NZ14.8 million from $NZ606.9 million. The decision was made in February but was disclosed with the lodging of accounts for Rio Tinto Alcan NZ.
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