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    December 4, 2023

    CRU: Rio Tinto acquires 50% of aluminum recycler Matalco

    Written by Guillaume Osouf

    Mining-metal group Rio Tinto has completed a transaction to purchase half of US aluminum recycling company Matalco from owner, the Giampaolo Group, for $700 million (€638 million), subject to final closing adjustments.

    The companies will turn Matalco into a 50:50 joint venture. The investment will expand Rio Tinto’s aluminum business in the US, where demand for recycled material is forecast to increase by more than 70% in the decade to 2032, driven by the transportation, construction and packaging sectors, the company said.

    Guillaume Osouf

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