Rio Tinto completes the acquisition of 11.65% stake in Boyne Smelters Limited
On Monday, September 30, Rio Tinto announced the completion of acquiring another 11.65 per cent interest in Mitsubishi Corporation-owned Boyne Smelters Limited (BSL). The latter owns and operates Boyne Island aluminium smelter in Gladstone, Australia.
Following the latest acquisition, Rio Tinto owns 71.04 per cent of interest in Boyne Smelters Limited.
Rio Tinto is keen to continue working with its BSL joint venture partners and other stakeholders to attain a low-carbon future within the aluminium supply chain in Gladstone.
Rio Tinto’s other acquisitions, such as Sumitomo Chemical Company’s 2.46 per cent stake in Boyne Smelters Limited and Sumitomo’s 20.64 per cent interest in New Zealand Aluminium Smelters (NZAS), are in progress.
Rio’s acquisition of Mitsubishi’s stake in BSL is for an undisclosed price and is also a case of mutual understanding for acquiring Sumitomo’s stakes in BSL and NZAS.
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