Rio Tinto may soon realize their Icelandic aluminium plant
The Australian company Rio Tinto for the second time intends to sell the asset. We are talking about the ISAL aluminum plant. It is located in Iceland. The company produces up to 210 thousand tons per year. Currently, there are a few contenders to acquire it. Power to it comes from hydroelectric and geothermal sources. Re-for sale the plant was exhibited at the end of last year.
Prior to that the Australian company was sold to Norsk Hydro. It is a Norwegian company engaged in the production of aluminum. However, the process was blocked by the European Commission. The cause was named as a possible excessive concentration of aluminum production. Have in mind that Norsk Hydro would control the North of Europe. This would have a negative impact on competition. Then again, Rio Tinto announced plans to sell the plant.
To get the plant you want several companies. Among them are mining and trading group Glencore. Today it has assets that produce aluminum. The other contender for the purchase is Trimet Aluminium. The German company is actively engaged in the production of aluminum products. Her interest in Icelandic plant caused by the desire to expand their power. This will allow the company to better supply the country’s automobile industry. Today, she is actively involved in supply of aluminium products automotive businesses.
The Australian company intends to sell not only the ISAL plant. She also put up for sale some assets located in Sweden. In addition, it intends to implement some of their plants in the Netherlands. About it reports news Agency «Reuters».