- Write by:
-
Monday, December 17, 2018 - 10:32:16 AM
-
1327 Visit
-
Print
Mining News Pro - Rio Tinto has completed the sale of its largest aluminium smelter in Europe, Aluminium Dunkerque, to Liberty House for $US500 million ($697 million).
According to Mining News Pro - The sale was initially targeted for completion in the second quarter of 2018. Liberty House is the industrial division of the Gupta Family Group (GFG Alliance).
Rio Tinto Aluminium chief executive Alf Barrios said earlier this year the sale would deliver value for the company thanks to a streamlined portfolio.
According to Barrios, Liberty House has a track record in investing in similar assets, which should secure a long-term sustainable future for Aluminium Dunkerque and continued economic benefit for the wider community.
The 285,000 tonnes a year smelter will be renamed Liberty Aluminium Dunkerque, and developed into a 570-worker smelter that produces components for the growing European automative markets.
GFG executive chairman Sanjeev Gupta said, “Liberty Aluminium Dunkerque provide excellent facilities, expertise and skilled workforces that enable us to grow strongly through long-term investments.
“The studies for Liberty Aluminium Dunkerque’s investment in added-value aluminium have confirmed our initial assumptions and we’ll continue our work on developing the investment program.”
GFG Alliance also operates the Scotland-based Lochaber aluminium smelter and assets formerly owned by Rio Tinto.
Short Link:
https://www.miningnews.ir/En/News/314943
The London Metal Exchange is imposing new rules surrounding the movement of metal in its warehousing network, taking aim ...
The London Metal Exchange (LME) on Saturday banned from its system Russian metal produced on or after April 13 to comply ...
Vietnam’s top miner Vinacomin plans to invest 182 trillion dong ($7.3 billion) to ramp up its alumina-aluminum ...
Copper jumped to its highest intraday price since January 2023 as the bellwether industrial metal faces rising tighter ...
The US Energy Department on Monday announced $6 billion in federal funding to subsidize 33 industrial projects in 20 ...
Aluminum prices touched an 11-week high on Monday over concerns over slow recovery in production in China’s Yunnan ...
Alcoa will buy Alumina in an all-stock deal that values the Australian firm at $2.2 billion, and makes the US company ...
Rio Tinto said on Thursday it had been notified of an incident at its Queensland gas pipeline, which Australian media ...
The US Department of Commerce announced on Tuesday preliminary countervailing duties on aluminum extrusions from China, ...
No comments have been posted yet ...