Rio Tinto announces US$2.7bn aluminium investment
- Publishing Date
- 02 Dec 2011 12:52pm GMT
- Author
- Mining Journal
Rio Tinto has approved the US$2.7 billion required to complete the modernisation project at its 60-year old aluminium smelter in Kitimat, British Columbia (BC).
The investment forms part of a US$3.3 billion project which will be complete in 2014.
Kitimat’s production capacity will increase by 48% to 420,000t/y and use hydropower and Rio Tinto Alcan’s proprietary AP40 smelting technology, halving the smelter’s carbon dioxide emissions.
According to Rio Tinto the project will "shift the project from the third quartile to the first decile of the industry cost curve".
Jean Simon, Rio Tinto’s president of primary metals said: “This is one of the largest private investments in BC’s history, and it will ensure the sustainability of the aluminium business in Kitimat for decades to come.”
In other news Rio Tinto has sold its Colowyo thermal coal mine in Colorado, completing the company’s divestment of its coal assets in the country.
Rio Tinto, and the buyer, Western Fuels-Colorado, a power supplier, agreed the deal in September and its terms are confidential.
Companies in this article
Visit the links below to read profiles, see stock information and read all news on companies mentioned in this article.
ALSO IN THE ARCHIVE...
More News By Subject
Site Search
Log in
-
Features
-
Editor's Comment
General Manager Processing - OK Tedi Mining
Ok Tedi Mining Limited operates a world class open pit mine and copper concentrator located in the Western Province of PNG.
Chief Operating Officer - TiZir Limited
Key Leadership Role with a $600M Joint Venture Project in West Africa, competitive salary package on offer with Residential and FIFO options.
Chief Executive Officer - Tin International Ltd
Tin International Ltd. (“TIN”) is in the process of becoming an ASX listed tin development company with assets located in Germany.
Recently Created or Updated Company News Portals
Comments