Rio Tinto increases Boyne Smelters interest to 73.5%
Rio Tinto increases Boyne Smelters interest to 73.5% Rio Tinto (ASX: RIO) will acquire Mitsubishi Corporation’s 11.65% interest in Boyne Smelters, which owns and operates the Boyne Island aluminium smelter in Gladstone, Queensland. On the completion of the transaction, and the recent agreement to acquire Sumitomo Chemical Company’s 2.46% interest in Boyne Smelters, Rio’s interest in Boyne Smelters will increase to 73.5%. The acquisition, which is for an undisclosed price, is subject to various conditions, including approval from Australia’s Foreign Investment Review Board, and it’s expected to be finalised in the second half of 2024. Upon completion of the transaction, the Boyne Smelter joint partners will be Rio Tinto (73.5%), YKK...