When did Rio Tinto acquire Alcan?

When did Rio Tinto acquire Alcan?

Tom Albanese, the former CEO at Rio Tinto, is out but Wall Street Journal (paywall) looked back to revisit what one principal called “the worst decision ever”: Rio Tinto buying Alcan for 38.1 billion in 2007.

How much did Rio Tinto pay for Alcan?

AA. N. Alcoa withdrew its offer after markets closed on Thursday and is now seen as a potential takeover target itself.

Who bought Alcan?

Rio Tinto
In 2007, Alcan was purchased by the British-Australian multinational corporation Rio Tinto for $38 billion.

Where is Rio Tinto Alcan?

Rio Tinto Alcan) is a subsidiary of Rio Tinto, based in Montreal.

What does Alcan stand for?


Acronym Definition
ALCAN Aluminum Company of Canada
ALCAN Alaska-Canada (highway)

Is Rio Tinto a Canadian company?

Rio Tinto Group is an Anglo-Australian multinational company that is the world’s second-largest metals and mining corporation (behind BHP). The company was founded in 1873 when of a group of investors purchased a mine complex on the Rio Tinto, in Huelva, Spain, from the Spanish government.

Who is Ivan Vella?

Ivan Vella joined Rio Tinto from 2003 to 2011 and re-joined in January 2016 as chief operating officer of coal before becoming managing director of port, rail & core services – iron ore in August 2016, interim chief executive of iron ore in September 2020, and aluminium chief executive in March 2021.

Where does Canada get its aluminum?

There are 10 primary aluminum smelters in Canada: one is located in Kitimat, British Columbia, and the other nine are in Quebec. There is also one alumina refinery, located in Jonquière, Quebec. No bauxite is mined in Canada.

Which is the biggest aluminium factory in the world?

China Hongqiao, right now, is the largest aluminium smelter in the world. With a combined annual capacity of 3.61 million tonnes, the Shandong province-based aluminium producer outpaced state-backed Aluminium Corporation of China and the erstwhile largest UC Rusal in a space of only two years.

Will Rio Tinto buy Alcan for $38 billion?

SAN FRANCISCO (MarketWatch) — Rio Tinto said Thursday it reached an agreement to buy Canadian aluminum producer Alcan Inc. for $38.1 billion in cash, topping a hostile offer from Alcoa Inc. by roughly a third. Alcoa, in a brief statement shortly after the closing bell, dropped its bid for Alcan rather than open a bidding war with Rio Tinto.

Will Rio Tinto’s proposed transaction protect minority shareholders in Turquoise Hill?

Given Rio Tinto’s approximately 51% ownership in Turquoise Hill, the Proposed Transaction will be required to follow the rules set out in Canadian Multilateral Instrument 61-101 – Protection of Minority Shareholders in Special Transactions.

Who is responsible for the release of this announcement on Rio Tinto?

This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of Rio Tinto plc is Steve Allen, Group Company Secretary. Classification: 3.1.

What does the proposed transaction with Mongolia mean for Rio Tinto?

The Proposed Transaction follows the recent comprehensive agreement reached between Rio Tinto, Turquoise Hill and the Government of Mongolia to move the Oyu Tolgoi project forward, reset the relationship between the partners and approve commencement of underground operations.