Rio sharpens axe as costs hit aluminium smelters

Original article by Brad Thompson
The Australian Financial Review – Page: 17 & 22 : 24-Oct-19

Rio Tinto has advised that its Tiwai Point aluminium smelter is under review and could be shut down because high energy costs and the low price of aluminium mean that it is currently not profitable. Rio Tinto has a 79.36 per cent stake in the smelter, which employs about 1,000 people. The future of Rio Tinto’s smelters in Tasmania, Queensland and New South Wales is also uncertain, as is Alcoa’s Portland smelter in Victoria.

CORPORATES
RIO TINTO LIMITED – ASX RIO, ALCOA INCORPORATED, PACIFIC ALUMINIUM PTY LTD, SUMITOMO CHEMICAL COMPANY LIMITED, MERIDIAN ENERGY LIMITED – ASX MEZ, AUSTRALIAN ALUMINIUM COUNCIL LIMITED

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s