This good news follows hot on the heels of Rio Tinto’s plans (announced October 2012) to close aluminium assets, including Gove, in order to improve on the company’s financial performance.

Sandeep Biswas, CEO of Rio Tinto’s Pacific Aluminium, said the deal was vital if the Gove smelter was to remain open in the face of high fuel costs and low alumina prices.

Gove produced 2.7Mmt of alumina and 7.9 million tons of bauxite in 2012.