Rio Tinto Will Invest $1.1 Billion to Increase Capacity at Aluminum Site in Canada
12 June 2023 - 11:53PM
Dow Jones News
By Christian Moess Laursen
Rio Tinto said Monday that it plans to invest $1.1 billion to
expand its low-carbon aluminum smelter at Complexe Jonquiere,
Canada.
The world's second-biggest miner by market value said the
expansion will increase capacity by around 160,000 metric tons of
primary aluminum a year, enough for 400,000 electric cars. As a
result, there will be a total capacity of 220,000 tons a year, it
said.
Construction will run over two-and-a-half years, with the
smelter fully ramped up by the end of 2026. The new capacity will
offset the 170,000 ton of capacity lost through the gradual closure
of potrooms at the same site from 2024, Rio Tinto said.
The Australian miner said the investment will enable the company
to meet demand for low-carbon, high-quality aluminum for use in
transportation, construction, electrical and consumer goods.
The total investment includes up to $113 million of financial
support from the Quebec government, the company said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
June 12, 2023 09:38 ET (13:38 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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