Power agreement delivers improved competitiveness for ISAL smelter
Rio Tinto has reached agreement on an amended power contract that will allow the ISAL aluminium smelter in Iceland to continue operating with an improved competitive position.
The agreement with power supplier, Landsvirkjun, will deliver a more competitive power price and energy flexibility that is mutually beneficial for both ISAL and Landsvirkjun.
Rio Tinto Aluminium chief executive Alf Barrios said: "We are pleased to have reached an agreement on a power price that, coupled with improved efficiencies we have delivered at the site, makes ISAL more competitive.
"This provides a stronger footing to continue operations at the smelter and gives increased security for the team at ISAL, who have been doing an outstanding job in challenging conditions. We will continue to work to strengthen ISAL's future in order to keep supplying low carbon aluminium to customers in Europe and North America, and making a significant contribution to Iceland's economy."
In parallel to the new agreement, Rio Tinto has decided to withdraw a complaint filed with the Icelandic Competition Authority in July 2020 regarding the energy supply for ISAL.
ISAL is wholly-owned by Rio Tinto and employs around 500 workers on site.
Category: ISAL
View source version on businesswire.com: https://www.businesswire.com/news/home/20210215005157/en/
Contact
media.enquiries@riotinto.com
riotinto.com
Media Relations, United Kingdom
Illtud Harri
M +44 7920 503 600
David Outhwaite
T +44 20 7781 1623
M +44 7787 597 493
Media Relations, Americas
Matthew Klar
T +1 514 608 4429
Media Relations, Asia
Grant Donald
T +65 6679 9290
M +65 9722 6028
Media Relations, Australia
Jonathan Rose
T +61 3 9283 3088
M +61 447 028 913
Matt Chambers
T +61 3 9283 3087
M +61 433 525 739
Jesse Riseborough
T +61 8 6211 6013
M +61 436 653 412
Investor Relations, United Kingdom
Menno Sanderse
T: +44 20 7781 1517
M: +44 7825 195 178
David Ovington
T +44 20 7781 2051
M +44 7920 010 978
Clare Peever
M: +44 7788 967 877
Investor Relations, Australia
Natalie Worley
T +61 3 9283 3063
M +61 409 210 462
Amar Jambaa
T +61 3 9283 3627
M +61 4 7286 5948
Rio Tinto Plc
6 St James's Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885
Rio Tinto Ltd.
Level 7, 360 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404
