Rio Tinto to invest $1.4 billion to expand Quebec aluminum smelter

Breadcrumb Trail Links Renewables Mining Energy Electric Vehicles Commodities Quebec will invest up to $150 million in the project Get the latest from Naimul Karim straight to your inbox Sign Up Published Jun 12, 2023  •  Last updated Jun 12, 2023  •  2 minute read Rio Tinto Ltd. chief executive Jacob Stausholom during the PDAC Conference at the Metro Toronto Convention Centre. Photo by Peter J. Thompson/National Post files Article content Rio Tinto Ltd. will invest $1.4 billion to expand its aluminum smelter in Quebec to help reduce its greenhouse-gas emissions by 290,000 tonnes per year, equivalent to removing 63,000 vehicles off the road, the company said. Advertisement 2 This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world’s leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by Kevin Carmichael, Victoria Wells, Jake Edmiston, Gabriel Friedman and others. Daily content from Financial Times, the world’s leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. REGISTER TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. Article content An aluminum smelter consists of a large number of cells, referred to as pots, which split water into oxygen and hydrogen to help produce aluminum. Rio’s investment will add 96 new pots to its Complexe Jonquière in Saguenay, which it says will reduce its carbon emissions. The pot’s smelting technology — called AP60 — was developed by Rio’s research team. Combined with the hydropower used at Rio’s operations in Canada, it generates one-seventh of greenhouse gases per tonne of aluminum when compared with the industry average, the company said. The Quebec government will invest up to $150 million in the project. “This is the most significant investment in the aluminum business across the Western world for more than a decade,” Rio’s chief executive Jakob Stausholm said while announcing the investment at an event in Quebec. Article content Advertisement 3 This advertisement has not loaded yet, but your article continues below. Article content He added that the industry often talks about the importance of battery metals such as lithium and nickel for the energy transition away from fossil fuels, but the demand for aluminum would be more important going forward. Canada is looking to build a low-carbon battery industry as the world is looking for ways to shift away from fossil fuels for energy. As a result, the demand for metals used to build electric vehicles and electric devices has increased in recent years. At the same time, Western nations such as Canada and the United States are looking to redesign their supply chains, which got hit during the pandemic, away from China and towards friendlier nations. The Asian nation dominates the processing and production of a number of critical minerals. Advertisement 4 This advertisement has not loaded yet, but your article continues below. Article content Canada’s industry minister François-Philippe Champagne said the move was a “home run” for Quebec. “This is the first smelter in the Western world in more than 10 years,” he said. The federal government also inked a memorandum of understanding with Rio to look for ways in which the miner can contribute to Canada’s low-carbon battery industry in the next decade. Champagne said he wants Rio to invest more in the country’s battery supply chain. Quebec Premier François Legault said the investment would “breathe new life” into the aluminum industry. Rio Tinto taps Quebec’s hydro power to produce green aluminum Mining giant Rio Tinto on what Canada needs for green transition Rio Tinto partners with First Quantum to develop Peru copper project Overall, Rio will have 134 AP60 pots after the new ones are built, which will take about two-and-a-half years to construct. The commissioning of the new pots is expected to begin in 2026. The project will generate up to 1,000 jobs during the peak of construction, Rio said. • Email: nkarim@postmedia.com | Twitter: naimonthefield Article content Share this article in your social network Comments Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings. Join the Conversation

This article was published by: Naimul Karim

Visit the original article here