Rio Tinto puts off plans for Paraguay aluminium plant

Wednesday, Dec 11, 2013
点击:

Giant global mining company Rio Tinto said on Tuesday it postponed studies related to a proposed $4-billion aluminium plant in Paraguay due to bad market conditions, putting what would be the country's biggest-ever foreign investment in jeopardy.

 
The plant would have been Rio Tinto's largest worldwide, with the capacity to produce 674 000 t/y. It had been scheduled to start operating in 2016.
 
"This was a difficult decision to make, given that we have very much enjoyed the professionalism and collaboration of the Paraguayan authorities," the company's Canadian subsidiary Rio Tinto Alcan said in a statement. "Having said that, we cannot avoid the reality of current market conditions."
 
Finance minister German Rojas told Reuters that the decision was driven by the company's need to cut costs in the face of fragile world commodity prices, aluminium prices in particular.
 
"It would have been worse if the project had advanced further before having to be abandoned," Rojas said.

Recommended exhibitions

Japan Metal Stamping Technology Exhibition 2014
The exhibition suggests a total solution for designing, manufacturing and production focus on introduction examples, me......
2014 Shanghai International Metal Packaging and Can Making I
Venue: Shanghai World Expo Exhibition & Convention Center Organizer: China Metal Packaging Association Shanghai Packagi......
International Green Building Expo-China 2013
Venue: Poly World Trade Expo Center Sponsors Guangdong Building Energy Conservation Association Guangzhou Association o......
Canadian International Aluminium Conference
Venue:
Palais des congrès de Montréal, Canada
Organizer:
The Aluminium Association of Canada
Conference pr......