Original article by Paul Garvey
The Australian – Page: 17 & 20 : 16-Apr-18
Rio Tinto has advised that its Queensland Alumina Limited business is unlikely to be significantly affected by a move by the US to impose trade sanctions on Russian companies. However, Rio Tinto has responded to the trade sanctions by declaring force majeure with regard to some QAL contracts. Russian companies that are affected by the sanctions include Rusal, which has a 20 per cent stake in QAL. Rio Tinto also has offtake agreements with Rusal regarding the former’s alumina smelters in France and Iceland, while Rusal also sources bauxite from Rio Tinto for its smelter in Ireland.
RIO TINTO LIMITED – ASX RIO, QUEENSLAND ALUMINA LIMITED, RUSAL, GLENCORE PLC, LONDON METAL EXCHANGE LIMITED, UNITED STATES. DEPT OF THE TREASURY, UNITED STATES. DEPT OF STATE