RIO rio tinto limited

July 9 (Reuters) - RIO TINTO - WILL START PLANNING FOR...

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    July 9 (Reuters) -

    • RIO TINTO - WILL START PLANNING FOR WIND-DOWN OF OPERATIONS AND EVENTUAL CLOSURE OF NEW ZEALAND ALUMINIUM SMELTERS
    • RIO TINTO LTD- NZAS HAS GIVEN MERIDIAN ENERGY NOTICE TO TERMINATE POWER CONTRACT, WHICH WILL END IN AUGUST 2021
    • RIO TINTO LTD - NZAS BUSINESS IS NO LONGER VIABLE GIVEN HIGH ENERGY COSTS AND A CHALLENGING OUTLOOK FOR ALUMINUM INDUSTRY
    • RIO TINTO-IN THE NEXT 14 MONTHS, NZAS & RIO TINTO TO WORK CLOSELY WITH PARTNERS TO PLAN TO WIND-DOWN OPERATIONS, AND EVENTUALLY CLOSE SMELTER
    • RIO TINTO- DISCUSSIONS WITH INTERESTED PARTIES HAVE FAILED TO SECURE CONTRACT THAT WILL ENABLE OPERATION TO BECOME COMPETITIVE AND PROFITABLE
    • RIO TINTO -DECISION TO WIND-DOWN OPERATIONS AT NZAS WILL HAVE SIGNIFICANT IMPACT ON EMPLOYEES, COMMUNITY AND CUSTOMERS

    Source text: https://www.riotinto.com/news/releases/2020/NZAS-terminates-electricity-contract-and-plans-to-wind-down-operations-following-strategic-review

    (([email protected];))

 
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