Rio Tinto agreed to acquire the Aurukun bauxite project on Australia’s Cape York from a joint venture between Glencore and Mitsubishi. The companies did not disclose the financial terms of the transaction.
The acquisition integrates the Aurukun resources into Rio Tinto’s existing regional portfolio, which includes the Weipa and Amrun mines. This move strengthens the company's position as a major global supplier of bauxite, the primary raw material for aluminum production.
Completion of the deal remains subject to approval from the Queensland Government and other regulatory authorities.