The Ruapehu district has been dealt a huge blow - as Winstone Pulp International confirms it will close the two mills in the region.
Over 230 workers will lose their jobs, and mayor Weston Kirton is 'gutted' the Government couldn't broker a deal and save the mills.
Infometrics principal economist unpacks the economic impact of this announcement.
LISTEN ABOVE
Take your Radio, Podcasts and Music with you
