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Stock impact report

Rio Tinto Backs Boyne Smelter With Renewables And Government Support [Yahoo! Finance]

Rio Tinto Plc (RIO) 
US:NYSE Investor Relations: riotinto.com/investors-87.aspx
Company Research Source: Yahoo! Finance
Rio Tinto Group (LSE:RIO) has reached a government backed agreement to support the future of the Boyne aluminium smelter in Queensland. The partnership with Queensland and Federal Governments is tied to significant new renewable energy investments for the smelter. The deal is aimed at securing regional manufacturing jobs and giving the smelter clearer long term operating certainty. For investors watching LSE:RIO at £71.02, this agreement lands against a backdrop of strong recent share performance, with the stock up 8.5% over the past week and 18.6% year to date. Over 1 year, 3 years and 5 years, returns of 76.2%, 61.2% and 85.6% respectively show how closely sentiment has been tied to Rio Tinto's management of its assets and its response to shifting energy and policy priorities. This new Boyne framework matters because it connects an existing industrial asset to future renewable power build out while aiming to secure manufacturing jobs and local supply chains. For readers, th Show less Read more
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