Rio Tinto, Ottawa partner to invest $737 million in Quebec steel and titanium project | Globalnews.ca

Rio Tinto is partnering with the Canadian government to invest up to $737 million to decarbonize its Rio Tinto Fer et Titane operations in Sorel-Tracy, Que.

The plant in southwestern Quebec produces steel, scandium and titanium dioxide.

Rio Tinto says 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 business by up to 70 per cent.

Rio Tinto says the investment will also progress initiatives to diversify RTFT’s product portfolio.

Rio Tinto chief executive Jakob Stausholm says the company is excited to collaborate with the Canadian government to position RTFT for the future and strengthen the critical minerals and metals value chains in Canada and the United States.

Prime Minister Justin Trudeau says the announcement is about positioning Canada as a leader in critical minerals – a key part of products like electric vehicles.

This report by The Canadian Press was first published Oct. 11, 2022.