Rio Tinto to Declare Force Majeure on Certain Rusal Contracts
April 13 2018 - 11:36AM
Dow Jones News
By Dimitrios Kontos
Rio Tinto PLC (RIO.LN) said Friday that it is in the process of
declaring force majeure on certain contracts with United Co. Rusal
PLC (0486.HK) as a result of the imposition of sanctions on Russian
companies by the U.S. Treasury Department.
The Australian-British mining group said that, in light of the
sanctions, it has been reviewing arrangements which include Rusal's
20% interest in Queensland Alumina Limited, bauxite sales to
Rusal's refinery in Ireland and contracts for alumina that are used
at Rio Tinto's smelters, mainly in France and Iceland.
The company said it is "committed to fully complying" with the
U.S. sanctions.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
April 13, 2018 11:21 ET (15:21 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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