Reports we're edging closer to knowing a certain future of the Tiwai Point Aluminium Smelter

Contact Energy's chief executive has revealed majority owner Rio Tinto is ready to make a deal on its long-term power contract, despite initial concerns it was too expensive to run.

Mike Fuge says the smelter, near Bluff, is one of the most carbon efficient in the world, emitting half the carbon of other smelters.