Rio Tinto completed the acquisition of the remaining 20.64% stake in NZAS from Sumitomo Chemical.

Rio Tinto, a British metal and mining company, completed the acquisition of the remaining 20.64% stake in New Zealand Aluminium Smelters, a provider of aluminum smelting services, from Sumitomo Chemical, a chemical company. Financial terms were not disclosed. “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,” Armando Torres, Rio Tinto Aluminium Pacific Operations Managing Director.