Rio Tinto Acquires Full Control of Key Aluminium Smelters

Acquisition of Sumitomo’s Stake in NZAS Finalized
Rio Tinto has completed the acquisition of Sumitomo Chemical Company’s 20.64% stake in New Zealand Aluminium Smelters (NZAS), making it the sole owner of the Tiwai Point aluminium smelter in New Zealand. This acquisition, finalized on November 1, 2024, consolidates Rio Tinto’s control over the smelter and reinforces its long-term commitment to the New Zealand aluminium sector.

Strengthened Position in Boyne Smelters Limited
In a related move, Rio Tinto has also completed the purchase of Sumitomo’s 2.46% stake in Boyne Smelters Limited (BSL), further increasing its share in the Australian smelter to 73.5%. Earlier this year, the company acquired Mitsubishi’s 11.65% stake in BSL. These strategic acquisitions align with Rio Tinto’s broader plans to strengthen its presence in the global aluminium market.

Commitment to Long-Term Operations and Energy Supply
Rio Tinto’s recent investments, including newly signed electricity agreements to secure the future of Tiwai Point, reflect the company’s determination to maintain a robust, sustainable aluminium production base in the Pacific region.