Rio Tinto abandons sale of Tiwai Point and other smelters

Thu, 08 Aug 2013

By Pattrick Smellie Aug 9 (BusinessDesk) - Global metals giant Rio Tinto has told shareholders it has given up trying to sell four Australasian aluminium smelters and associated assets, including the Tiwai Point smelter. The announcement that Rio will "bring the assets back into our aluminium product group" came just hours after Meridian Energy announced it had renegotiated electricity contracts for the Tiwai Point smelter, which had been hived off into a Rio subsidiary, called Pacific Aluminium. PacAl included Tiwai Point and three Austral...

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