Rio Tinto is one of the mining majors. Its position in aluminium was limited before acquiring Alcan in 2007. Following the acquisition, the company became a globally-spread aluminium major with a portfolio of assets of various age, geography, capacity and cost. The company since has been streamlining assets, either through disposal or closure. The flagship operations of the company are its low cost smelting base in Canada and bauxite/alumina assets in Australia.