Power agreement delivers improved competitiveness for ISAL smelter
Rio Tinto has reached agreement on an amended power contract that will allow the ISAL aluminium smelter in Iceland to continue operating with an improved competitive position.
The agreement with power supplier, Landsvirkjun, will deliver a more competitive power price and energy flexibility that is mutually beneficial for both ISAL and Landsvirkjun.
Rio Tinto Aluminium chief executive Alf Barrios said: "We are pleased to have reached an agreement on a power price that, coupled with improved efficiencies we have delivered at the site, makes ISAL more competitive.
"This provides a stronger footing to continue operations at the smelter and gives increased security for the team at ISAL, who have been doing an outstanding job in challenging conditions. We will continue to work to strengthen ISAL's future in order to keep supplying low carbon aluminium to customers in Europe and North America, and making a significant contribution to Iceland's economy."
In parallel to the new agreement, Rio Tinto has decided to withdraw a complaint filed with the Icelandic Competition Authority in July 2020 regarding the energy supply for ISAL.
ISAL is wholly-owned by Rio Tinto and employs around 500 workers on site.
Atlas Salt Inc. ("Atlas" or the "Company") is pleased to announce that it has filed its year-end audited financial statements and Management Discussions and Analysis ("MD&A") as of December 31, 2023 with the appropriate...
Nexa Resources S.A. ("Nexa Resources", "Nexa" or the "Company") is pleased to announce the publication of its 2023 Sustainability Report. The report highlights the Company's commitment to corporate sustainability and...
In a development aimed at reinforcing the United States' national security capabilities, ADDMAN Group, via its HARBEC business unit, has been entrusted with a pivotal qualification project for the US Navy. This project focuses on the Additive...
Alamos Gold Inc. ("Alamos" or the "Company") today reported its financial results for the quarter ended March 31, 2024. "We delivered another strong start to the year across a number of fronts, following a record performance in 2023. Costs...
Artemis Gold Inc. ("Artemis Gold" or the "Company") provides an update on Q1 construction progress at the Blackwater Mine in central British Columbia. The project remains fully funded, within the guidance for initial capital expenditure, and on...
Honey Badger Silver Inc. ("Honey Badger" or the "Company") is pleased to appoint George Topping as a Director effective today. The Company has also appointed Stephen Kibsey and Michael Jalonen as Advisors to the Company.The...
