Another divestment for Rio

RIO Tinto has agreed to sell its Dunkerque aluminium smelter in France to Sanjeev Gupta’s Liberty House for US$500 million.

Another divestment for Rio Another divestment for Rio Another divestment for Rio Another divestment for Rio Another divestment for Rio

Liberty House, an international business with interests in commodities, steel and advanced engineering products, previously acquired Rio's Lochaber smelter and assets in Scotland in December 2016 for $410 million.

The 280,000 tonne per annum Dunkerque smelter is just one of a number of assets in Rio's aluminium division it has reportedly been looking to offload.

It is also considering selling its 205,000tpa smelter in Iceland and its Pacific Aluminum business in Australia.

At the same time as Rio has been divesting more than $8 billion of non-core assets over the past five years, Liberty House's Gupta has been on a spending spree.

On top of the Lochaber purchase, Gupta's GFG Alliance agreed to acquire the Tahmoor coking coal mine from Glencore just last week. ...