Rio Tinto’s Icelandic aluminium plant attracts Glencore - sources

Rio Tinto’s Icelandic aluminium plant attracts Glencore - sources

According to reports, at least three companies including Glencore (GLEN.L) have expressed an interest in buying Rio Tinto’s aluminium assets in Iceland, Sweden and the Netherlands for up to $350 million.

Rio Tinto restarted the sale process for the assets in late 2018, with the help of French investment bank Natixis, sources previously said, after Norwegian aluminium company Norsk Hydro (NHY.OL) pulled out of buying them, blaming a delay in getting European Commission approval.

As well as an aluminium smelter in Iceland, Rio has put on the block a 53% stake in a Dutch anode facility and 50% of the shares in a Swedish aluminium fluoride plant, which are ingredients in aluminium production.

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