Rio Tinto Gets A$2 Billion Government Support to Keep Boyne Smelter Running [Yahoo! Finance]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Yahoo! Finance
Rio Tinto Group (NYSE:RIO) engages in exploring, mining, and processing mineral resources worldwide. The company operates through its Iron Ore, Aluminium and Lithium, and Copper segments. Rio Tinto Group (NYSE:RIO) announced on March 24 that it had secured a A$2 billion government bailout to keep its Boyne aluminum smelter running until at least 2040. Under the terms of the deal, the federal government and the state of Queensland will invest the amount over 10 years from 2030. In return, Rio Tinto has promised to invest A$7.5 billion into new renewable energy generation and storage investments to ensure the project's transition to renewable electricity. Operating since 1982, Boyne is the second-largest aluminium smelter in Australia. The facility has a capacity of more than 500,000 tonnes of aluminium a year and supports over 1,000 jobs. Its current power contract expires in 2029, and Rio had previously expressed doubt over the plant's long-term future if it could not reduce emis
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Sec Filings
- 2/19/26 - Form IRANNOTICE
- RIO's page on the SEC website