Mining giant Rio Tinto (RIO) is spending $1.1 billion to expand its Complexe Jonquière aluminum smelter in Quebec.
The company said its investment will increase its annual aluminum capacity by about 160,000 metric tonnes.
The smelter in Quebec is considered to have low carbon emissions and Rio Tinto is under pressure to reduce its greenhouse gas emissions.
The Government of Quebec is spending $113 million to support Rio Tinto’s smelter expansion in the province.
The expanded smelter is expected to be fully operational by the end of 2026. The project will create 1,000 jobs during construction and about 100 permanent jobs once up and running.
Rio Tinto’s stock has declined 7% in the last 12 months to trade at $63.74 U.S. per share.
