Alcan News

Mining giant Rio Tinto Alcan has shelved a $US2.7 billion smelter project in South Africa in the face of electricity supply and pricing concerns, a spokesman for Rio Tinto Africa said on Friday.

Rio Tinto PLC's record-setting US$38.1-billion bid for Alcan Inc. is expected to bring an abrupt end to the takeover battle for the Montreal-based company, as people inside and outside Alcan agree it will likely scare off other bidders.

Alcan's manufacturing plant in Wilbur is one of four operated by the company in the United States and three in Canada.

Anglo-Australian mining giant Rio Tinto has advanced its debt reduction plans by selling building materials manufacturer Alcan Composites to Swiss machinery producer Schweiter Technologies for $349 million, the two companies said Tuesday.

The $US750 million transaction was announced in February as part of a $US1.6 billion sale, which also included the $US850 million sale of Rio Tinto's potash project in Argentina and exploration assets in Canada.

Packaging company Amcor has offered to buy Rio Tinto's remaining Alcan Packaging divisions for $2.025 billion, the mining giant said Tuesday.

Amcor Ltd. of Australia offered to buy part of Rio Tinto Groupa s Alcan unit for $2.03 billion to become the biggest supplier of drug packaging.

Packaging company Amcor has offered to buy Rio Tinto's remaining Alcan Packaging divisions for $2.025 billion, the mining giant said Tuesday.

Alcoa Inc. said Chairman Alain Belda will retire in April after 40 years with the company and Chief Executive Officer Klaus Kleinfeld may take over the position in addition to his current duties.

Rio Tinto Group , the worlda s third- largest mining company, halted the sale of its Alcan cable unit, French cable maker Nexans SA said.

Bemis Co., whose clear plastic packages hold everything from batteries to burgers, said late Sunday it is paying $1.2 billion for the global packaging business of Rio Tinto PLC.

In one breath, Bemis Co. Inc. grew from a $3.8 billion company to one with sales projected at $5.3 billion, with additional growth likely down the road.

Rio Tinto has sold a division of its Alcan unit for $1.2 billion as it continues to reduce debt, the Anglo-Australian miner said in a statement Monday.

Novelis Inc. today announced that Antonio Tadeu Coelho Nardocci has been appointed President, Novelis Europe, effectively immediately.

Rio Tinto Group Plc , the worlda s third-largest mining company, may accept offers for parts of its aeronautics and automotive division after abandoning the sale of a minerals unit last week.

Rio Tinto Alcan has received a C$175 million loan from the Quebec provincial government to continue construction of a state-of-the-art AP50 pilot plant in the Saguenay-Lac-Saint-Jean region.