Mining major Rio Tinto has sold off the majority of its stake in aluminium products maker Constellium NV for about $330 million.
Mining giant Rio Tinto will not sell its underperforming Pacific Aluminium, its Australasian aluminium assets amid the mining slowdown.
Chinese investment company CITIC has taken a 13 per cent stake in Alumina for $452 million, sending shares in the Victorian-based investment company skyrocketing.
An internal review has recommended Rio Tinto close down its aluminium refinery in the Northern Territory over the next six to 12 months.
The NT Government has proposed a plan to help save Rio Tinto’s aluminium refinery near Gove, but says the resources giant must work with it on a plan to secure cheap power for the plant.
The Australian Workers Union is attempting to force BHP Billiton back into collective bargaining negotiations for workers at the Worsley aluminium plant in WA.
An unknown amount of chemical waste has been released into a residential area of Gladstone after a mechanical failure at Queensland Alumina’s refinery.
Queensland Alumina Limited (QAL) confirmed jobs will be cut at its plant in Gladstone.
Tasmania’s Bell Bay smelter will buck the current trend of closures after an agreement between Rio Tinto and the government secures it future.