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Rio Tinto agreed to acquire Sumitomo Chemical Company Limited's 20.64% interest in New Zealand Aluminium Smelters (NZAS) for an undisclosed price, making NZAS 100% owned by Rio Tinto.
New Zealand Aluminium Smelters (NZAS) signed 20-year electricity arrangements with Meridian Energy, Contact Energy and Mercury NZ for 572 MW of power, securing the future of the Tiwai Point aluminium smelter. The agreements are expected to commence in July 2024 and run until at least 2044.