Rio Tinto to Declare Force Majeure on Certain Rusal Contracts

By Dimitrios Kontos

Rio Tinto said Friday that it is in the process of declaring force majeure on certain contracts with United Co. Rusal PLC (0486.HK) as a result of the imposition of sanctions on Russian companies by the U.S. Treasury Department.

The Australian-British mining group said that, in light of the sanctions, it has been reviewing arrangements which include Rusal's 20% interest in Queensland Alumina Limited, bauxite sales to Rusal's refinery in Ireland and contracts for alumina that are used at Rio Tinto's smelters, mainly in France and Iceland.

The company said it is "committed to fully complying" with the U.S. sanctions.

Write to Dimitrios Kontos at [email protected]