Rio Tinto to decide future of Tomago aluminium smelter by mid-year, CEO says

Reuters

2025/02/20

MELBOURNE, Feb 20 (Reuters) - Rio Tinto RIO.AX will decide by the middle of this year on the future of the Tomago aluminium smelter in Australia due to high power prices, CEO Jakob Stausholm said on Thursday.

"I certainly hope we can succeed in Tomago, I just can't provide assurance today. We are aiming for having clarity for mid-year," Stausholm said on a media call.

The miner reported its smallest full-year underlying earnings in five years on Wednesday, which also came in below expectations, as lower prices for iron ore outweighed growth in its copper and aluminium businesses.

(Reporting by Melanie Burton; Editing by Leslie Adler)

((melanie.burton@thomsonreuters.com;))

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