Rio Tinto To Expand AP60 Aluminium Smelter At Complexe Jonquire - Quick Facts

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) said it will invest $1.1 billion or C$1.4 billion to expand its AP60 aluminium smelter equipped with low-carbon technology at Complexe Jonquire in Canada. The total investment includes up to $113 million or C$150 million of financial support from the Quebec government. The project will create up to 1,000 jobs during the peak of construction and approximately 100 permanent jobs will be maintained.

Rio Tinto stated that the investment will add 96 new AP60 pots, increasing capacity by approximately 160,000 metric tonnes of primary aluminium per year. This will offset the 170,000 tonnes of capacity lost through the gradual closure of potrooms at the Arvida smelter from 2024.

Rio Tinto noted that the Group's capital expenditure guidance of $9 billion to $10 billion in both 2024 and 2025 remains unchanged.