By Stephen Nakrosis
Rio Tinto said it would work with the Government of Canada to decarbonize its Rio Tinto Fer et Titane operations in Sorel-Tracy, Quebec.
Rio Tinto said it would invest up to C$737 million ($537 million) and “position the company as a center of excellence for processing critical minerals.” The Government of Canada will invest up to C$222 million over the next eight years to support these initiatives.
“The partnership will support technological innovations that represent a first step towards reducing greenhouse gas emissions from RTFT’s titanium dioxide, steel and metal powders businesses by up to 70%,” according to Rio Tinto.
The partnership will support projects including a BlueSmelting project, which is “an ilmenite smelting technology that could generate 95% less greenhouse gas emissions than the facility’s current smelting process,” said Rio Tinto. Other supported projects include increasing scandium production and adding titanium metal to the portfolio, Rio Tinto said.
The company said Rio Tinto Fer et Titane’s operations have been processing ore from northern Quebec for more than 70 years.
Write to Stephen Nakrosis at [email protected]
(END) Dow Jones Newswire