Rio Tinto Invests $1.4 Billion in Low Carbon Footprint Aluminum Smelter Expansion

2023-06-12 14:19:47

Rio Tinto is committed to investing $1.4 billion in the expansion of its aluminum smelter at Complexe Jonquière, in Saguenay, and the installation of 96 pots using AP60 low carbon footprint electrolysis technology.

These new tanks, made in China, should make it possible to reduce greenhouse gas (GHG) emissions by half per tonne of aluminum currently produced at its Arvida plant.

Photo QMI Agency, Roger Gagnon

They should also make it possible to increase its production capacity by 160,000 metric tons of primary aluminum per year.

.@RioTinto announced a $1.4 billion plan to expand and decarbonize its aluminum operations. The Government of Quebec will contribute with a loan of $150 million. We will continue to be leaders in the environment and to create wealth for Quebecers! pic.twitter.com/8ZiPu0kGWv

— Francois Legault (@francoislegault) June 12, 2023

The government will contribute to this project with an investment, in the form of a “forgivable loan”, of $150 million. The terms of the conditions for reimbursement (or non-reimbursement) of these public funds by the multinational remain to be defined, acknowledged the Minister of Economy and Innovation, Pierre Fitzgibbon.

Furthermore, the details of the expected deployment of Elysis, this GHG-free aluminum electrolysis technology, have not been discussed. Quebec and Rio Tinto are finalizing the terms of a partnership in preparation.

More details will follow.

1686588027
#Rio #Tinto #invests #billion #expansion #Arvida #plant