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Rio Tinto Says Australian Aluminum Smelter Weighing Closure

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Rio Tinto Plc said the Tomago aluminum smelter in Australia is considering closing as a projected increase in power costs from 2029 would leave operations unviable.

Tomago has started a consultation process with employees on the potential future of the smelter in New South Wales, according to a statementBloomberg Terminal Tuesday. A decision hasn’t yet been made and the consultation will run until Nov. 21, Rio said.

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