Pacific Aluminium and Meridian Energy will hold more talks on Monday on the future of the Tiwai Point aluminium smelter.
Negotiations on a new electricity contract stalled two weeks ago, with an offer from the Government to subsidise the power being rejected. They resumed last Wednesday.
A Pacific Aluminium spokesperson said it's wrong to assume that the owner, Rio Tinto, is sitting around the negotiating table.
The spokesperson said that following a restructure, Rio Tinto has nothing to do with the Tiwai melter.
He said following a restructure, Rio Tinto has nothing to do with the Tiwai smelter and the talks are stalled because Pacific Aluminium does not have a big chequebook.
Progress needed - mayor
Invercargill Mayor Tim Shadbolt says progress needs to be made on agreeing a price for power for the Tiwai Point aluminium smelter.
Mr Shadbolt told Radio New Zealand's Morning Report programme there has been a lot of talk about other industries using the power if the smelter closes, but they would take a long time to set up and the best outcome is the status quo.
An advertising campaign by Invercargill City Council to rally people behind the cause has been put on hold at the request of Pacific Aluminium until the outcome of the discussion is known.