Rio out of Ma'aden
Rio Tinto has pulled out of the US$10bn aluminium smelter project it was developing with Saudi state mining company Ma'aden, perhaps not surprisingly. However, Ma'aden still seems to be pressing ahead with the scheme, particularly as the EPC costs on the project will now be reducing. Last year, Ma'aden financed its fertiliser scheme with state petrochemical company Sabic as its joint venture partner.
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