Rio smelter to go for $ 700m

RIO Tinto plans to sell its Aluminium Dunkerque smelter in France to industrial and metals company Liberty House Group for $ US500 million ($ A700 million). The mining giant says it has received a binding offer from Liberty House – the company that bought Rio Tinto’s Lochaber smelter and assets in Scotland in December 2016 – which includes plans to modernise.

Rio will launch a consultation process with employees, relevant European works councils and other stakeholders, and expects a sale to be completed in the second quarter of 2018.

Rio Tinto Aluminium chief executive Alf Barrios said the offer was the best option.

“Liberty House has a track record of investing in similar assets, which should secure a long- term sustainable future for Aluminium Dunkerque and continued economic benefit for the wider community,” Mr Barrios said in a statement.