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[October 2007]
Rio Tinto Alcan Expands Landmark Alumina Deal
Rio Tinto Alcan has announced that it has reached an agreement with Norsk Hydro ASA to expand its alumina supply to Hydro Aluminium from 500,000 tonnes of alumina per year to 900,000 tonnes from 2011 to the end of the contract.
Steve Hodgson, President and CEO, Bauxite and Alumina, Rio Tinto Alcan, said: "The expansion of our supply contract with Norsk Hydro underpins our decision to invest in an expansion of the Yarwun alumina refinery. It is consistent with our strategy to maximise the value of Rio Tinto Alcan's world class bauxite deposits at Weipa in north Queensland, Australia".
Under a 20-year contract signed in 2003 with Norsk Hydro, Rio Tinto Alcan is committed to supplying Hydro Aluminium with 500,000 tonnes of alumina per year from 2006 until 2030. This contract also gave Norsk Hydro an option to increase its purchases of alumina.
ENDS