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Rio Tinto Files Complaint With ICA Over ISAL Smelter Power Agreement

Rio Tinto said that it has submitted a formal complaint to the Icelandic Competition Authority or ICA alleging abuse of market dominance by Landsvirkjun, the energy supplier to Rio Tinto's ISAL aluminium smelter in Iceland.

Rio Tinto's complaint alleged that pricing terms of the power agreement with Landsvirkjun are discriminatory, abuse its market dominant position and cannot be justified.

Rio Tinto is asking the ICA to address anti-competitive conduct by Landsvirkjun through discriminatory pricing and long-duration power contracts, so that the ISAL smelter and other Icelandic manufacturing and businesses are able to compete internationally.

Rio Tinto said it has concluded that Landsvirkjun is not ready to provide electricity purchase conditions that will allow ISAL to become sustainable and competitive, and to address its abusive and discriminatory conduct.

Rio Tinto is concluding the first phase of the strategic review with the filing of the ICA complaint. If Landsvirkjun does not address its abusive conduct, ISAL will have no choice but to consider termination of its energy contract and commence planning for orderly closure of the smelter.

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