MONTREAL (AP) — Mining company Rio Tinto Alcan said Wednesday it agreed to increase its supply of aluminum oxide to Norway's Norsk Hydro, an energy and aluminum production company.
Beginning in 2011 and continuing through 2030, U.K.-based Rio Tinto will ship 900,000 tons of aluminum oxide per year to Norsk Hydro's aluminum subsidiary. Currently the subsidiary receives 500,000 tons of alumina per year.
Shares of Rio Tinto PLC rose $13.79, or 3.8 percent, Wednesday to $373.79 in afternoon trading.
