Rio Tinto and the Government of Quebec have renewed their partnership agreement which strengthens their joint commitment to Rio Tinto’s world-class aluminium assets in Quebec (Canada).
According to Rio Tinto, generations of employees and local stakeholders joined Rio Tinto and the Government of Quebec as they renewed the historic partnership, marking almost a century of collaboration to ensure that Quebec continues to provide high quality aluminium to customers in North America.
The renewed partnership, which follows on from a 2006 agreement, enables Rio Tinto to continue its operations at the Vaudreuil refinery and Arvida smelter. The extension of Arvida has been made possible by permits granted by the Government and the continuation of a linked power contract at preferential rates.
Chief Executive of Rio Tinto Aluminium, Alf Barrios, said: “This agreement provides Rio Tinto with the confidence to invest US$193 million (CAN$250 million) to extend the life of its Vaudreuil refinery and US$154 million (CAN$200 million) to continue operations at the Arvida smelter.”
According to Rio Tinto, the agreement also serves to support Rio Tinto’s growth options, with flexibility around potential future investments. Rio Tinto is progressing studies into a range of potential projects including increasing smelting and value-added product capacity, and enhancing research and development in the region.
Barrios said: “Renewing our longstanding and successful partnership with the Government of Quebec ensures that Rio Tinto’s hydro-powered aluminium operations in the region will continue to lead the industry in the production of sustainable low carbon aluminium.”
Managing Director of Atlantic Operations at Rio Tinto Aluminium, Gervais Jacques, said: “We will continue to work in partnership with the Government of Quebec as we explore potential options for future investments and strengthen our competitive position to meet rising demand for aluminium from customers in North America.”
Read the article online at: https://www.globalminingreview.com/finance-business/26072018/rio-tinto-and-government-of-quebec-renew-partnership/