Rio Tinto Entered Into New Power Contract for Iceland Smelter

The ISAL aluminum smelter in Iceland is wholly-owned by Rio Tinto and employs around 500 people.

SEATTLE (Scrap Monster): London-headquartered Rio Tinto announced that it has reached an agreement with the power supplier Landsvirkjun on a new power contract for the ISAL aluminum smelter in Iceland. The amended contract will help the aluminum smelter to operate with increased competitiveness. Further to this, Rio Tinto has decided to withdraw the complaint filed with the Icelandic Competition Authority in connection with the supply of power to the smelter.

In a media release, Rio Tinto stated that the company is pleased to have reached an agreement on a power price that will make ISAL more competitive. The agreement will deliver competitive power price as well as energy flexibility. The contract is mutually beneficial for both ISAL and Landsvirkjun, it noted.

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Commenting on the new agreement, Alf Barrios, chief executive, Rio Tinto said that it provides a stronger footing to continue operations at the smelter. The company will continue its efforts to further strengthen ISAL’s future, by supplying low carbon aluminum to its customers across the Europe and North America. The company remains confident in making significant contributions to Iceland’s economy, he added.

The ISAL aluminum smelter in Iceland is wholly-owned by Rio Tinto and employs around 500 people.

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