Australian aluminium smelters 'not sustainable’ due to high power costs, Rio Tinto says

Warning comes a week after company flagged it may close its New Zealand smelter

Mining giant Rio Tinto says its Australian Aluminium smelters, which employ more than 2,600 workers, are not sustainable at current power prices.

The company runs three smelters in Australia, which are under financial pressure due to the high price of electricity, which makes up about a third of their costs, and the low price of aluminium due to a flood of cheap supply coming from Asian competitors.