Rio Tinto completed the acquisition of Mitsubishi Corporation’s (Mitsubishi) 11.65% stake in Boyne Smelters Limited (BSL) on September 30. Upon the transaction, Rio Tinto’s interest in BSL increased to 71.04%, and Mitsubishi will have no stake in BSL.

BSL, located at Boyne Island in Central Queensland, is the second-largest aluminum smelter in Australia. The smelter is adjacent to, and connected via a conveyor belt, to the Queensland Alumina Limited Refinery to supply alumina.

BSL is now a joint venture between Rio Tinto (71.04%), YKK Aluminium (9.50%), UACJ Australia (9.29%), Southern Cross Aluminium (7.71%), and Sumitomo Chemical (2.46%).