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.

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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