The UK's last primary aluminium smelter, at Fort William in Scotland, is set to change owners. Rio Tinto has reached agreement to sell its assets at Lochaber to SIMEC for consideration totalling $410 million (£330 million).
The sale of Rio Tinto’s 100 per cent shareholding in Alcan Aluminium UK Limited includes the operating smelter, the hydroelectric facilities at Kinlochleven and Lochaber, as well as all associated land.
SIMEC’s intention is that the smelter will be operated by the Liberty House Group, its sister company within the international GFG Alliance.
GFG Alliance strategic board executive chairman Sanjeev Gupta said: “This is a significant boost to our renewables portfolio and will be another major step towards reducing our carbon footprint in metals production."