Rio Tinto has announced it will sever all ties with its Russian businesses in the wake of President Vladimir Putin’s continuing invasion of Ukraine. Rio is the first major mining company to join a growing cluster of Western businesses shunning Russian assets and suspending operations in...
The global commodities market has continued its upward price trajectory in the wake of Russia’s enveloping invasion of Ukraine, which has compelled investors to turn away from assets of Russian origin. Fears of potential shortages of fossil fuels and key metals pushed up commodities markets to...
The US is not yet committing to sanctions against Russia that could disrupt global aluminium supplies, with the market already facing severe shortages of the industrial metal. According to people familiar with the matter, White House officials met with industry representatives in recent weeks and told...
Australia’s South32 will spend around US$70 million on the restart of an aluminium smelter in Brazil, which has been on care and maintenance since 2015. The global diversified miner and its joint venture partner Alcoa Corp aim to bring the Aluma smelter back online by June...
Australia delivered a full-year trade surplus of AUS$49.9 billion thanks to record high exports from the resources sector, which has been boosted by higher commodity prices during the last year. Iron ore was again Australia’s biggest single contributor to exports, delivering $77 billion in revenue over...
Rio Tinto and US-based Alcoa Corporation have unveiled a revolutionary new method of producing aluminium that eliminates all direct greenhouse gas emissions from the smelting process. The mining giant and industrial business are joined by technology giant Apple, who have agreed to provide technical support to...
Rio Tinto (ASX:RIO) hopes to finalise the sale of two aluminium smelters in Europe regardless of the recent sanctions imposed on Russian aluminium raw material supplier Rusal by the US. The Anglo-Australian mining giant announced a US$500 million deal to sell its Dunkerque smelter in France...
Glencore will not proceed with a share transaction involving Russian mining giant Rusal and its CEO Ivan Glasberg will step down from the board of Rusal in the face of escalating geopolitical tensions. Rusal is owned by Russian aluminium tycoon Oleg Deripaska, who is known to...
US President Donald Trump has revealed he will stick to the proposed hefty tariffs on steel and aluminium imports, despite the resignation of his top economic advisor Gary Cohn. It is believed that Cohn was staunchly opposed to the controversial legislation that will impose a 25%...
Rio Tinto (LSE:RIO) has received a US$345 million binding offer from Norway’s Norsk Hydro for its European aluminium assets, which include the ISAL Smelter in Iceland. Along with the 205,000 tonnes a year capacity smelter, Hydro also made offers for majority stakes in the mining giant’s...