Power agreement delivers improved competitiveness for ISAL smelter
EXHIBIT 99.3
Media release
Power agreement delivers improved competitiveness for ISAL smelter
15 February 2021
LONDON--(BUSINESS WIRE)-- Rio Tinto has reached agreement on an amended power contract that will allow the ISAL aluminium smelter in Iceland to continue operating with an improved competitive position.
The agreement with power supplier, Landsvirkjun, will deliver a more competitive power price and energy flexibility that is mutually beneficial for both ISAL and Landsvirkjun.
Rio Tinto Aluminium chief executive Xxx Xxxxxxx said: “We are pleased to have reached an agreement on a power price that, coupled with improved efficiencies we have delivered at the site, makes ISAL more competitive.
“This provides a stronger footing to continue operations at the smelter and gives increased security for the team at ISAL, who have been doing an outstanding job in challenging conditions. We will continue to work to strengthen ISAL’s future in order to keep supplying low carbon aluminium to customers in Europe and North America, and making a significant contribution to Iceland’s economy.”
In parallel to the new agreement, Rio Tinto has decided to withdraw a complaint filed with the Icelandic Competition Authority in July 2020 regarding the energy supply for ISAL.
ISAL is wholly-owned by Rio Tinto and employs around 500 workers on site.
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Contacts
xxxxx.xxxxxxxxx@xxxxxxxx.xxx
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Media Relations, United Kingdom Illtud Harri M x00 0000 000 000 Xxxxx Xxxxxxxxx X x00 00 0000 1623 M x00 0000 000 000 Media Relations, Americas Matthew Klar T x0 000 000 0000 Media Relations, Asia Grant Donald T +65 6679 9290 M x00 0000 0000 | Media Relations, Australia Jonathan Rose T x00 0 0000 3088 M x00 000 000 000 Xxxx Xxxxxxxx X x00 0 0000 3087 M x00 000 000 000 Xxxxx Xxxxxxxxxxx X x00 0 0000 6013 M x00 000 000 000 | ||||
Investor Relations, United Kingdom Menno Sanderse T: x00 00 0000 1517 M: x00 0000 000 000 Xxxxx Xxxxxxxx X x00 00 0000 2051 M x00 0000 000 000 Xxxxx Xxxxxx X: x00 0000 000 000 | Investor Relations, Australia Natalie Worley T x00 0 0000 3063 M x00 000 000 000 Amar Jambaa T x00 0 0000 0000 M x00 0 0000 0000 | ||||
Rio Tinto plc 6 Xx Xxxxx’x Xxxxxx Xxxxxx XX0X 0XX Xxxxxx Xxxxxxx X x00 00 0000 2000 Registered in England No. 719885 | Rio Tinto Limited Level 0, 000 Xxxxxxx Xxxxxx Xxxxxxxxx 0000 Xxxxxxxxx X x00 0 0000 3333 Registered in Australia ABN 96 004 458 404 | ||||
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