Rio Tinto said it has agreed to acquire the Aurukun bauxite project in Australia from Glencore and Mitsubishi to strengthen its key raw material resources for aluminum production. The project is close to Rio Tinto's existing bauxite business in Far North Queensland, and its price was not disclosed. Rio Tinto said the acquisition is still awaiting regulatory approval.

Rio Tinto said it has agreed to acquire the Aurukun bauxite project in Australia from Glencore and Mitsubishi to strengthen its key raw material resources for aluminum production. The project is close to Rio Tinto's existing bauxite business in Far North Queensland, and its price was not disclosed. Rio Tinto said the acquisition is still awaiting regulatory approval.