Wednesday, April 21, 2010

Rio Tinto Alcan (NYSE:RTP) Algeria Aluminum Plant

Rio Tinto Alcan (NYSE:RTP) has confirmed it is in negotiations with the Algerian government to construct an aluminum plant in the country.

Spokesman for Rio Tinto Alcan, Stefano Bertolli, said the division of Rio Tinto is in the early stages of looking into the potential opportunity.

Much of the impetus behind the project would be in connection to lower operational costs, as natural gas prices in the Middle East is cheap.

Normally a new aluminum plant would produce about 460,000 tons annually, and in the second stage increase to about double that.

Rio Tinto Alcan opened an aluminum plant in Oman in 2009, which produces 360,00o tons a year and which they have a 20 percent stake in.

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