MELBOURNE, Australia – Rio Tinto will sell 13 of its aluminium units including refineries and smelters as the world’s second biggest miner seeks to streamline its Alcan business.
Shares in Anglo-Australian company gained almost 3 per cent in early trade in Australia on Monday to a one-month high of 70.16 Australian dollars ($72.44) after the company said in a statement it was streamlining its aluminium group following a strategic review.
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The company said the move would allow Rio Tinto Alcan to grow the value of its tier one assets and improve the product group’s financial performance.
The units are in the United States, Britain, France, Germany, Australia and New Zealand.
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