A big phasedown of ironsand-based steel production is on the cards at New Zealand Steel. This is the result of a conditional three-way environmental agreement between NZ Steel, the Government and Contact Energy. An extra $160 million will be paid by NZ Steel. The deal will also see NZ Steel slipping down the rankings of companies whose carbon costs are met by the Government. NZ Steel makes several common products in NZ including Colorsteel and Axxis steel framing.

Source: New Zealand Herald May 21, 2023 07:01 UTC