Boyne smelter cuts

According to reports, Rio Tinto’s Boyne aluminium smelter in Gladstone is set to slash more than 100 jobs and about 80,000 tonnes of annual production — worth $US160 million at current prices — because it has been unable to secure economically-priced power from state power providers. The production and job cuts are almost double those flagged in January, when Rio Tinto said it would cut 8 per cent of production, or 45,000 tonnes, and about 30 jobs because power price spikes were hitting production cuts.