South32 Graham Kerr
Diversified miner South32 has completed the acquisition of an additional 18.2% interest in the Mineração Rio do Norto (MRN) bauxite mine, in Brazil, from Alcoa, taking its stake in the project to 33%.
“We are pleased to complete the acquisition of an additional interest in MRN, securing increased access to bauxite for our integrated aluminium supply chain,” said South32 CEO Graham Kerr.
He noted that the acquisition of an increased interest in MRN was also an important step as the company worked with its joint venture partners to complete a prefeasibility study for the MRN life extension project, which could potentially extend the operating life of the mine by a minimum of 20 years.