Rio Tinto vows to cut all ties with Russian businesses
10 March 2022
Rio Tinto, one of Australia’s largest mining companies, has launched an urgent review of its partnership agreement with Russian aluminium giant Rusal in Queensland as it seeks to sever all business ties to Russia because of the war in Ukraine.
In the latest high-profile corporate withdrawal from Russia, Rio Tinto on Thursday said it was in the process of “terminating all commercial relationships it has with any Russian business”.
The announcement raises questions about the future of Rio Tinto’s majority-owned Queensland Alumina Limited (QAL) in Gladstone, one of Australia’s largest alumina refineries, which is 20 per cent owned by Russia’s Rusal.