Rio Tinto reviews arrangements with Rusal

Cornelia Mascio
Aprile 16, 2018

"As a result of the imposition of these sanctions, Rio Tinto is in the process of declaring force majeure on certain contracts and is working with its customers to minimise any disruption in supplies".

Rio Tinto is fully committed to complying with the U.S. sanctions.

"Trump's policies are bound to have an impact on the global aluminium landscape", it added.

Ahead of the trade, the lowest mark of the company's shares on the exchange was $2.09 (June 12, 2016), $2.13 (January 17, 2016) and $2.19 (November 17, 2013).

Three-month aluminium on the London Metal Exchange was flat at $2,284.50 a tonne at 0330 GMT, after hitting a six-high year of $2,340 a tonne on Friday and posting its biggest weekly gain since the current contract was launched.

Along with its Irish interest with Rio, Rusal, the world's second-largest aluminium producer (after China's Hongqiao), holds a 20 per cent interest in the Queensland Alumina refinery, as well as offtake alumina contracts for some of Rio's smelters in Europe, particularly in France and Iceland.

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