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

Reuters | February 19, 2025 | 3:04 pm Top Companies Australia Aluminum 
Credit: Rio Tinto

Rio Tinto will decide by the middle of this year on the future of the Tomago aluminum 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 aluminum businesses.

(By Melanie Burton; Editing by Leslie Adler)

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