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Rio Tinto, Cahya Mata scrap Malaysian smelter plan

By · March 28, 2012 · 12:25 am · Leave a Comment

 

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By Jason Ng

CAHYA Mata Sarawak, a Malaysian construction and building materials company, and Australian miner Rio Tinto said they will not go ahead with plans to develop a $US2 billion ($1.9bn) aluminium smelter in the state of Sarawak in East Malaysia.

Cahya Mata and Rio were unable to finalise commercial power supply terms with Sarawak Energy Bhd, Cahya Mata said in a statement to the Malaysian stock exchange yesterday.

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