Rio Tinto picks up alumina stake from Kaiser.(Kaiser Aluminum Corp.)(Brief Article)(Statistical Data Included)
Mining Journal, June, 2001
The Rio Tinto group has agreed to increase its interest in the alumina refinery at Gladstone in Queensland from 30.3% to 38.6%. Rio Tinto's wholly-owned subsidiary Comalco Ltd will pay US$159 million in cash to Kaiser Aluminum Corp. of the US, and assumed US$30 million in debt, for the additional 8.3% interest. Kaiser will be left with a 20.0% interest. The sale remains subject to regulatory approval, including that of the Foreign Investment Review Board, and completion is anticipated in the September quarter.
The refinery, owned and operated through Queensland Alumina Ltd, produced about 850,000 t in the three months to March 31, 2001 (100% basis). Its rated capacity is around 3.6 Mt/y. The other owners of Queensland Alumina are Alcan Inc. of Canada, with...
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