Rio Tinto completed the previously announced acquisition of Sumitomo Chemical Co.’s 20.64% interest in the joint venture New Zealand Aluminium Smelters (NZAS) on 1 November, making it the sole owner.
NZAS owns and operates the Tiwai Point aluminium smelter, located on Tiwai Peninsula in Southland. Around 90% of the aluminium produced there is exported.
“We are pleased the acquisition of SCC’s stake in NZAS has now been finalised,” said Rio Tinto Aluminium Pacific Operations Managing Director Armando Torres. “This step, along with recently signed electricity arrangements to secure the future of the Tiwai Point smelter, reinforces our long-term commitment to New Zealand.”
In May, NZAS signed 20-year electricity arrangements that secured the future of the smelter to continue competitively producing high-purity, low-carbon metal, backed by a diversified mix of renewable electricity from New Zealand’s South Island.
Source: Rio Tinto