Rio Tinto moves to comply with US sanctions, declares force majeure on Rusal contracts

Mining major Rio Tinto will declare a force majeure on certain contracts with the world’s second-largest aluminium producer, United Company Rusal, after the US government imposed sanctions against a number of Russian businessmen and corporations. Rio told shareholders that the company had reviewed its arrangements with Rusal, following the US government announcement, including Rusal’s 20% interest in Queensland Alumina refinery, which produces some 3.95-million tonnes a year of alumina.