Diversified mining major Rio Tinto has announced a strategic review of the ISAL smelter in Iceland, to determine the operation’s “ongoing viability and explore options to improve its competitive position”.
The smelter, which the company unsuccessfully tried to sell a year-and-a-half ago, is unprofitable, owing to high energy costs and historically low aluminium prices. The strategic review will consider all options, including curtailment and closure, and will be complete in the first half of 2020.