Federal government invests more than $190M in critical minerals and aluminum processing sector

SEATTLE (Scrap Monster): Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, announced a $193.3 million investment under the Strategic Response Fund to strengthen Canada’s aluminum industry.

The first investment is $164.8 million toward Rio Tinto’s $818.5 million projects to strengthen and decarbonize the company’s aluminum value chain in Saguenay–Lac-Saint-Jean. The projects will try to enhance the production capacity and efficiency of regional operations.

This reportedly includes the construction of a new billet casting centre at the Alma smelter to support the production of value-added aluminum products, as well as the modernization of the anode baking furnaces at the Grande-Baie smelter through major infrastructure upgrades and equipment refurbishment to try and improve reliability, productivity and long-term competitiveness.

The second investment of 28.5 million will go toward Aluminerie Alouette’s $135 million project to modernize and optimize its electrolysis operations. These technological improvements are meant to target energy performance, industrial competitiveness and the reduction of greenhouse gas emissions.

“Canada’s critical minerals sector drives key industries, such as defence, aerospace and automotive, that support jobs and communities in Quebec and across Canada. By investing in the long-term competitiveness of Canada’s largest aluminum smelter, we are reinforcing a globally competitive, low-carbon aluminum industry and laying the groundwork for growth in Canada’s downstream aluminum sector, including the extrusion sector. As global trading relationships are shifting, we are making investments that will drive economic growth, reinforce Canada’s role in the global energy transition, protect jobs and build a strong, resilient Canadian economy,” said Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions.

“Rio Tinto thanks the Government of Canada for this important support to Canada’s aluminum industry. As we celebrate 100 years of aluminum production in Saguenay–Lac-Saint-Jean, and in the context of increased international competition, this investment is a real driver for accelerating modernization, growth and the decarbonization of our operations in the region. It’s helping reinforce our value chain, support quality jobs and create the necessary conditions for continuing to invest, innovate and produce here in Quebec and in Canada,” said Sébastien Ross, Managing Director of Atlantic Operations at Rio Tinto Aluminium.

Courtesy: www.canadianmanufacturing.com