Rio Tinto reiterates Tiwai position as aluminium prices stay weak

Fri, 17 Jan 2020

ASX-listed mining giant Rio Tinto is lobbying on both sides of the Tasman as it seeks cheaper energy for its aluminium smelters.The majority owner of the Tiwai Point smelter said the aluminium industry continued to face low profitability in what it described as challenging conditions in global markets and policy uncertainty. Aluminium production from Rio smelters was down 2 percent in calendar 2019 at 3.17 million tonnes while its average realised price sank 14 percent to US$2,132 per tonne.The mining company is reviewing its 79.4 percent stake...

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