Lochaber sale agreed

Rio Tinto has reached an agreement to sell its assets at Lochaber, Scotland to SIMEC for consideration totalling $410 million (£330 million). The sale purchase agreement comprises the sale of Rio Tinto’s 100 per cent shareholding in Alcan Aluminium UK Limited which includes the operating smelter, the hydroelectric facilities at Kinlochleven and Lochaber as well as all associated land. Rio Tinto Aluminium chief executive Alf Barrios said “This is a value-creating sale for Rio Tinto and represents another example of refining our portfolio to focus on our suite of tier one assets. “At the same time, our priority has been…