Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Deal keeps smelter for less than four years


SOE Spokesperson


Deal keeps smelter for less than four years

National has cut a short term deal with Rio Tinto that gifts the multinational $30 million of taxpayers’ money so the Government can get the Meridian asset sale monkey off its back, says Labour’s SOEs spokesperson Clayton Cosgrove.

“This is a short term deal that is huge win for Rio Tinto. National is so desperate to get Meridian sold off that it has given Rio Tinto a $30 million bonus to sweeten the deal and all the company has to do is keep the smelter open for three and a half years.

“Rio Tinto has also managed to halve its notice period. It will now be able to walk away with 15 months’ notice, instead of three years currently.

“The Minister of Finance himself has conceded this is not a long term solution. It’s designed to get Meridian off the block.

“By 1 January 2017 we will be back where we started. Rio Tinto will yet again have the right to walk away and will be in a position to hold the Government, taxpayers and the people of Southland to ransom once more.

“The people of Southland will breathe a sigh of relief but that sigh will only last until 1 January 2017. The Government has acted incompetently for months by refusing to intervene, then going over the top of the board for a weekend of negotiation, and then walking away.

“$30 million of taxpayers’ money should get the taxpayer far more security than three and a half years. Yet again this Government has been walked all over by a multinational.

“The Government must be open and transparent about this deal. It cannot leave New Zealanders and any potential investors in the dark,” says Clayton Cosgrove.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why New Zealand Needs To Change Its Defence Habits

In a flashback to the military displays of days gone by, one of our frigates recently joined a Carrier Strike show of force in the South China Sea, en route to a joint military exercise in Singapore with our traditional allies, called BersamaGold21. Reportedly, Anna Powles, from the Centre of Defence and Security Studies at Massey University felt this to be a case of us doing our bit to uphold international law, and the right of free transit through the region in question... More>>

Government: New COVID-19 Protection Framework Delivers Greater Freedoms For Vaccinated New Zealanders

Vaccinated New Zealanders will regain everyday freedoms when the country moves to a new simplified COVID-19 Protection Framework that doesn’t rely on nationwide lockdowns as the main measure to stop the virus spreading. In a suite of announcements that establish a pathway out of restrictions the Government is also providing up to $940 million per fortnight to support businesses through the challenging period... More>>



Government: Responds To Independent Review Into WorkSafe

The Government has clear expectations that WorkSafe must action the recommendations of the independent review into the regulator to improve its management of adventure activities following the tragedy at Whakaari White Island, Workplace Relations and Safety Minister Michael Wood says... More>>

Government: New Zealand Secures Historic Free Trade Deal With The United Kingdom
New Zealand and the United Kingdom have agreed in principle the details of a historic Free Trade Agreement (FTA), which will further accelerate our COVID-19 economic recovery say Prime Minister Jacinda Ardern and Minister for Trade and Export Growth Damien O’Connor... More>>


Ombudsman: Launches Investigation Into MIQ Booking System
The Chief Ombudsman Peter Boshier is launching a broad investigation into the Managed Isolation and Quarantine (MIQ) booking system after receiving hundreds of complaints... More>>


Pay Cheque To Pay Cheque: Half A Million New Zealanders Have No Savings
New findings from the Consumer NZ sentiment tracker found that 15% of New Zealanders had no savings, and a further 27% were anxious about their level of savings and would like to have more tucked away... More>>

Government: Mandatory Vaccination For Two Workforces

Large parts of two workforces critical to preventing the spread of COVID-19 will be required to be vaccinated, COVID-19 Response Minister Chris Hipkins said today. “Our education and health and disability workforces have done an incredible job throughout this pandemic to keep themselves and people safe,” Chris Hipkins said.... More>>

Green Party: Deeply Concerned Space Launches May Be Breaching Nuclear-free Laws

The Green Party is deeply concerned that space launches by Rocket Lab may be breaching nuclear-free laws, given our long-standing position as a signatory of the Nuclear Non-Proliferation Treaty... More>>




InfoPages News Channels