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Rio Tinto's Icelandic Aluminum Plant Attracts Glencore - Report

Metal News - Published on Mon, 08 Jul 2019

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Reuters, citing banking sources, reported that at least three companies have expressed an interest in buying Rio Tinto’s aluminum assets in Iceland, Sweden and the Netherlands for up to USD 350 million. Sources said “Commodity trader and miner Glencore is among interested parties.

German aluminum producer Trimet Aluminium was also named by the sources as one of the companies that had expressed interest, but it said on Thursday that it was not interested in buying any aluminum plant.

Rio Tinto restarted the sale process for the assets in late 2018, with the help of French investment bank Natixis, after Norwegian aluminum company Norsk Hydro pulled out of buying them, blaming a delay in getting European Commission approval.

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Posted By : Ratan Singh on Mon, 08 Jul 2019
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