Rio Tinto To Conduct Strategic Review Of Its Interest In NZAS JV

(RTTNews) - Rio Tinto plc (RTPPF.PK, RIO.L, RIO, RTNTF.PK) said it will conduct a strategic review of its interest in New Zealand's Aluminium Smelter (NZAS) at Tiwai Point. The review will consider all options, including curtailment and closure. The NZAS joint venture between Rio Tinto (79.36%) and Sumitomo Chemical (20.64%) employs around 1000 people.

Rio Tinto Aluminium chief executive Alf Barrios said: "The aluminium industry is currently facing significant headwinds with historically low prices due to an over-supplied market."

Rio Tinto plc expects the short to medium outlook for the aluminium industry to be challenging.