By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
AmextaFinanceAmextaFinance
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
AmextaFinanceAmextaFinance
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
AmextaFinance > Investing > Rio Tinto Will Invest $1.1 Bln to Increase Capacity at Aluminum Site in Canada
Investing

Rio Tinto Will Invest $1.1 Bln to Increase Capacity at Aluminum Site in Canada

News Room
Last updated: 2023/06/12 at 9:47 PM
By News Room
Share
1 Min Read
SHARE
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


Read the full article here

News Room June 12, 2023 June 12, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Donald Trump could trigger another market shock, investors warn

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Texan communities reel as holiday idyll becomes a disaster zone

When Jacqueline White moved to the banks of the Guadalupe River in…

Tidings from my stock market humble pie

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Fuel to Air India 171’s engines was cut off seconds before fatal crash, report says

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

‘El Chapo’ scion pleads guilty to US drug trafficking charges

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Investing

Why Home Builders Are Bouncing Today—and Why Their Stocks Are Good Buys

By News Room
Investing

This Beaten-Down Industrial Stock Wants to Call America Home. Why It’s Time to Buy.

By News Room
Investing

These 8 Dividend Aristocrats Can Protect Your Portfolio in a Downturn

By News Room
Investing

Some Lenders Benefit From SBA’s Troubled Loan Program

By News Room
Investing

Social Security Is in Turmoil. Should You Lock In Benefits Now?

By News Room
Investing

Hims & Hers Stock Is Due for a Crash Diet. The GLP-1 Surge Is Fading Fast.

By News Room
Investing

Opinion: The stock-market selloff isn’t over yet. Here are 4 reasons why.

By News Room
Investing

With Trump’s tariffs paused, ‘Big Three’ automakers may race to build inventories

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

YOUR EMAIL HAS BEEN CONFIRMED.
THANK YOU!

Welcome Back!

Sign in to your account

Lost your password?