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