Rio Tinto to acquire the remaining 20.64% stake in NZAS from Sumitomo Chemical Company.

Rio Tinto, a British metal and mining company, to acquire the remaining 20.64% stake in New Zealand Aluminium Smelters, a provider of aluminum smelting services, from Sumitomo Chemical Company, a chemical company. Financial terms were not disclosed. "We are pleased the long-term future of the Tiwai Point smelter has been secured with these agreements, which were reached with a genuinely collaborative spirit between all parties. They give us confidence that our New Zealand workforce and assets can continue competitively producing the high purity, low-carbon aluminium needed for the global energy transition," Jérôme Pécresse, Rio Tinto Aluminium CEO.