Reported 7 months ago
Rio Tinto has agreed to acquire 11.65% stake in Boyne Smelters Ltd from Mitsubishi Corporation, aiming to boost its ownership in the Australian aluminium smelter in Gladstone. The acquisition, whose financial details are undisclosed, is part of Mitsubishi's aluminum portfolio reshuffling. Rio Tinto's commitment includes working with joint venture partners to secure a competitive, low-carbon future for the smelter, which has been operational since 1982 and is Australia's second-largest. The acquisition is set to close in the second half of 2024.
Source: YAHOO