Rio Tinto completes acquisition of Sumitomo Chemical’s stake in New Zealand Aluminium Smelter

Rio Tinto has successfully completed the acquisition of Sumitomo Chemical’s 20.64% stake in New Zealand Aluminium Smelter (NZAS) and 2.46% stake in Boyne Smelter Limited (BSL).

With the completion of the NZAS acquisition, Rio Tinto now owns 100% of the Tiwai Point Aluminium Smelter in New Zealand. This strategic move reinforces Rio Tinto’s long-term commitment to New Zealand and the aluminium industry.

Rio Tinto Aluminium Pacific Managing Director Armando Torres expressed satisfaction with the completion of the transaction. He stressed that the acquisition, together with the recent power agreement, ensures the sustainable development of the Tiwai Point Smelter.

The acquisition of SCC’s stake in BSL, together with the recent acquisition of Mitsubishi’s 11.65% stake, brings Rio Tinto’s total shareholding in BSL to 73.5%. This increase in holdings consolidates Rio Tinto’s position as a major player in the global aluminium industry.

While the specific financial terms of the two acquisitions have not been disclosed, the transactions represent important milestones for Rio Tinto's global aluminum business.

These acquisitions are in line with Rio Tinto's broader strategy to optimize its global aluminum portfolio and secure long-term supply chains. By increasing ownership of these key assets, Rio Tinto aims to improve operational efficiency, reduce costs and strengthen its market position.