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Announced

Rio Tinto to acquire an additional 11.65% stake in Boyne Smelters from Mitsubishi.

Synopsis

Rio Tinto, a global mining group that focuses on finding, mining and processing mineral resources, agreed to acquire an additional 11.65% stake in Boyne Smelters, Australia's second largest aluminium smelter, from Mitsubishi, a global integrated business enterprise. Financial terms were not disclosed. Rio Tinto looks forward to continuing to work with its remaining BSL joint venture partners and other stakeholders on securing a competitive low-carbon future for its Gladstone operations. After completion of the two transactions, the BSL joint venture partners will be: Rio Tinto (73.5%), YKK Aluminium (9.50%), UACJ Australia (9.29%) and Southern Cross Aluminium (7.71%).

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