Skip to main content

US sanctions force Rio Tinto to suspend Rusal contracts

Published by , Assistant Editor
Global Mining Review,


Following the announcement by the US Treasury Department on 6 April 2018, that it was implementing sanctions on various Russian individuals and companies, Rio Tinto has reviewed its arrangements with impacted entities. 

According to the company, the arrangements include Rusal’s 20% interest in Queensland Alumina Ltd in Australia, encompassing Rusal’s associated supply and offtake arrangements, bauxite sales to Rusal’s refinery in Ireland and offtake contracts for alumina that are used at Rio Tinto’s smelters, mainly in France and Iceland.

As a result of the imposition of these sanctions, Rio Tinto is in the process of declaring force majeure on certain contracts and is working with its customers to minimise any disruption in supplies.

Rio Tinto is fully committed to complying with the US sanctions.

Read the article online at: https://www.globalminingreview.com/finance-business/16042018/us-sanctions-force-rio-tinto-to-suspend-rusal-contracts/

You might also like

EMI

Electrification in Mining virtual conference

Join us on 16 April 2024 for Global Mining Review's first Electrification in Mining event is an interactive virtual conference, focusing on electrification as the future of sustainable mining and exploring the innovative approaches and technologies being developed to facilitate its implementation.

Register for FREE »

 
 
 

Embed article link: (copy the HTML code below):