14 MAY 2015AlCircle.com
Sam Walsh speaks of expansion plans in aluminium
Edited by : AL CIRCLE
1 min read
At the Merrill Lynch global metals, mining and steel conference, Barcelona, Spain, Rio Tinto CEO, Sam Welsh, expressed his desire to continue pushing for growth despite the challenging environment.
The tough environment for “subdued pricing and economic uncertainty” a lot of tough decisions had to be taken including job cuts for many able people, says Walsh.
Rio Tinto has invested $4.8 billion for the modernization of its Kitimat aluminium smelter in British Columbia increasing its production capacity by 48% to around 420,000 tons/year. The modernization also allow 80% of Rio’s smelters to be in the first quartile backed by long-life, low-cost hydropower.
“Our aluminium division has been working hard on productivity and cost for a number of years, delivering some low-cost creep tonnes across both primary aluminium and bauxite product segments. This approach is embedded in our organisation and I expect continued low-cost creep tonnes to be delivered across our businesses.”
The tough environment for “subdued pricing and economic uncertainty” a lot of tough decisions had to be taken including job cuts for many able people, says Walsh.
Rio Tinto has invested $4.8 billion for the modernization of its Kitimat aluminium smelter in British Columbia increasing its production capacity by 48% to around 420,000 tons/year. The modernization also allow 80% of Rio’s smelters to be in the first quartile backed by long-life, low-cost hydropower.
“Our aluminium division has been working hard on productivity and cost for a number of years, delivering some low-cost creep tonnes across both primary aluminium and bauxite product segments. This approach is embedded in our organisation and I expect continued low-cost creep tonnes to be delivered across our businesses.”
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