LONDON (ShareCast) - (Sharecast News) - Rio Tinto said on Monday that it will invest $1.1bn to expand its AP60 aluminium smelter in Quebec.
The total investment in the smelter, which is equipped with low-carbon technology, includes up to $113m of financial support from the Quebec government.

Rio said the expansion, which will coincide with the gradual closure of potrooms at the Arvida smelter on the same site, will enable the company to continue meeting customers' demand for low-carbon, high-quality aluminium for use in transportation, construction, electrical and consumer goods.

The investment will add 96 new AP60 pots, increasing capacity by around 160,000 metric tonnes of primary aluminium per year, enough for 400,000 electric cars. As a result, there will be a total of 134 AP60 pots and a capacity of about 220,000 tonnes per year.

At the peak of construction, which will run over two and a half years, the project will generate up to 1,000 jobs and approximately 100 permanent jobs will be maintained as a result of the expanded smelter.

Rio chief executive Jakob Stausholm said: "This investment is aligned with our strategy to decarbonise our value chains and grow in materials essential for the energy transition. Our AP60 technology is already proven and producing some of the lowest carbon aluminium in the world, thanks to the expertise of our highly qualified workforce and access to renewable hydropower.

"This is the most significant investment in our aluminium business for more than a decade and it will further strengthen Rio Tinto's high-quality and low-carbon offering to our customers as they also work to reduce their own carbon footprint."

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