Rio Tinto says long-term future of Boyne aluminium smelter is secured with new A$2bn deal

Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) told investors that a A$2 billion funding partnership with the Queensland and Commonwealth governments will help secure the long-term future of the Boyne aluminium smelter in Gladstone, keeping the operation internationally competitive beyond its current power contract. The 10-year deal, running to 2040, is set to support the smelter's shift to long-term competitive power and keep aluminium production running after Boyne's existing electricity contract ends in 2029.