Rio completes sale of Dunkerque aluminium smelter

Company News

by Anna Napoli

Rio Tinto (ASX:RIO) has completed the sale of its aluminium smelter at Dunkerque, in France to Liberty House for $500 million.

Liberty House is continuing operations at the smelter and has announced plans for the development of additional activity around the site.

Rio will return the proceeds from the sale to shareholders, with the exact timing to be announced with Rio's 2018 full year results.

The mining giant expects there will be no material tax payable on the transaction.

Shares in Rio Tinto (ASX:RIO) closed 1.48 per cent lower to $74.57 on Friday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.