Methanex Halts New Zealand Operations for Energy Support

Methanex (TSE:MX) has released an update.

Methanex Corporation will temporarily cease operations in New Zealand to contribute to the local energy supply, anticipating a positive impact on its earnings for the second half of 2024. The company has arranged to supply its contracted natural gas to the New Zealand electricity market, with financial terms that could yield significant benefits over the methanol production margins.

For further insights into TSE:MX stock, check out TipRanks’ Stock Analysis page.