Rio Tinto has completed the sale of its aluminium smelter at Dunkerque, France, to Liberty House for $500 million.

Liberty House, which is part of the GFG Alliance (Gupta Family Group), has committed to continuing operations at the smelter and has announced plans for the development of additional activity around the site.

As previously announced, the proceeds will be returned to shareholders, with the precise timing and form to be announced with Rio Tinto’s 2018 full year results.

Rio Tinto estimates that there will be no material tax payable on this transaction.