Rio Tinto completes acquisition of Sumitomo's 20.64% stake in New Zealand's aluminium smelter
MELBOURNE, Australia--(BUSINESS WIRE)--October 31, 2024--
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241031358993/en/
CONTACT: Please direct all enquiries to media.enquiries@riotinto.com
Media Relations, United Kingdom
Matthew Klar
M +44 7796 630 637
David Outhwaite
M +44 7787 597 493
Media Relations, Australia
Matt Chambers
M +61 433 525 739
Michelle Lee
M +61 458 609 322
Rachel Pupazzoni
M +61 438 875 469
Media Relations, Canada
Simon Letendre
M +1 514 796 4973
Malika Cherry
M +1 418 592 7293
Vanessa Damha
M +1 514 715 2152
Media Relations, US
Jesse Riseborough
M +1 202 394 9480
Investor Relations, United Kingdom
David Ovington
M +44 7920 010 978
Laura Brooks
M +44 7826 942 797
Wei Wei Hu
M +44 7825 907 230
Investor Relations, Australia
Tom Gallop
M +61 439 353 948
Amar Jambaa
M +61 472 865 948
Rio Tinto plc
6 St James's Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885
Rio Tinto Limited
Level 43, 120 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404
riotinto.com
Category: NZAS
(END) Dow Jones Newswires
October 31, 2024 23:57 ET (03:57 GMT)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.