Rio Tinto Announces Sale Of Its Lochaber Assets To SIMEC - Quick Facts

(RTTNews) - Rio Tinto plc (RTPPF.PK, RIO.L, RIO, RTNTF.PK) announced an agreement to sell its assets at Lochaber, Scotland to SIMEC for consideration totalling 330 million pounds. The agreement includes a payment on completion of 180 million pounds, plus an additional payment of 150 million pounds not later than 28 February 2017. The agreement comprises the sale of Rio Tinto's 100 percent 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 has now agreed more than $1.3 billion in divestments in the current year, bringing the total value of divestments announced or completed to $5.3 billion since January 2013.