Rio Tinto completes acquisition of Sumitomo’s 20.64% stake in New Zealand’s aluminium smelter
October 31 2024 - 10:57PM
Business Wire
Rio Tinto’s previously announced acquisition of Sumitomo
Chemical Company’s (SCC’s) 20.64% interest in New Zealand Aluminium
Smelters (NZAS) was completed on 1 November 2024. NZAS owns and
operates the Tiwai Point aluminium smelter in New Zealand.
Following completion of the transaction, NZAS is now wholly
owned by Rio Tinto.
Rio Tinto Aluminium Pacific Operations Managing Director Armando
Torres said: “We are pleased the acquisition of SCC's stake in NZAS
has now been finalised. This step, along with recently signed
electricity arrangements to secure the future of the Tiwai Point
smelter, reinforces our long-term commitment to New Zealand.”
Rio Tinto has also completed the previously announced
acquisition of SCC’s 2.46% stake in Boyne Smelters Limited (BSL).
The completion of this transaction, along with the recently
completed acquisition of Mitsubishi’s 11.65% stake in BSL, brings
Rio Tinto’s total interest in BSL to 73.5%.
The acquisition of SCC’s stakes in NZAS and BSL was for an
undisclosed price.
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version on businesswire.com: https://www.businesswire.com/news/home/20241031358993/en/
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