18 May 2015

Aluminium assets may be for sale

9:17 pm on 18 May 2015

Financial correspondents in London and Sydney are reporting that Rio Tinto will try again to sell a cluster of trans-Tasman aluminium assets, including its Tiwai Point refinery near Bluff.

Tiwai Point smelter

Tiwai Point smelter Photo: Wiki Commons

Rio Tinto is expected to ask for over US$1 billion for the package, despite spending much of 1012 and 2013 trying to sell off the refineries.

The Financial Times reported that Rio has hired Credit Suisse to find a buyer for Pacific Aluminium.

Executives have said they will not be spinning off its aluminium arm in the same way that was proposed in 2013, but the Australian Financial Review said that Rio Tinto may try to float the New Zealand and Australian refineries.

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