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How will Rio Tinto's stock price change by end of 2024 following increased stake in Boyne Smelters Ltd?
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Rio Tinto•Mitsubishi Corporation•Boyne Smelters Ltd•BSL•Boyne Island•Gladstone•Australia•Sumitomo Chemical Co
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Story
Rio Tinto Acquires Mitsubishi’s 11.65% Stake in Boyne Smelters, Raising Interest to 73.5%
Jun 10, 2024, 11:19 PM
Rio Tinto has announced its acquisition of Mitsubishi Corporation’s 11.65% stake in Boyne Smelters Ltd (BSL), which operates the Boyne Island aluminium smelter in Gladstone, Australia. This acquisition follows Rio Tinto's recent purchase of Sumitomo Chemical Co’s 2.46% stake in BSL, bringing Rio Tinto’s total interest in BSL to 73.5%. The financial terms of the transaction have not been disclosed.
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