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.