Alcoa acquires strategic South32 assets

U.S.-headquartered Alcoa has entered into a definitive agreement to acquire Australia-based South32 Limited’s interests in a bauxite mine, alumina refinery, and aluminum smelter operations in a cash and stock transaction for an upfront consideration of $4.1 billion.  “This is exactly the type of opportunity Alcoa is built to execute,” explained William F. Oplinger, president and chief executive officer of Alcoa.…

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Rio Tinto, Windlab ink Gladstone renewable power deal

Rio Tinto confirmed it has signed a power purchase agreement, the largest ever for Australia, to energize its Gladstone operations in central Queensland. The miner has agreed to buy the majority of electricity from Windlab’s planned 1.4-GW Bungaban wind energy project, making it the biggest industrial buyer of renewable power in Australia. Rio Tinto officials called it a major step…

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