Rio Tinto renews strategic partnership with Quebec to invest more than $300 million
Rio Tinto has renewed a strategic partnership with local Canadian government as it looks to scientifically increase investment into the local region.
In an announcement made this week, Rio Tinto announced that it had renewed its partnership agreement with the Government of Quebec, strengthening their joint commitment to the company’s aluminium assets in the region.
The partnership supersedes a 2006 agreement and will see Rio Tinto continue to operate in Quebec and invest heavily into economic growth areas.
As an example, Rio Tiunto invests more than $7.7 million per year into community partnerships and through the renewed partnership it will continue to do so until 2025.
Rio Tinto has the Vaudreuil refinery and Arvida smelter in Quebec and Al Barrio, Chief Executive of the company, feels the partnership will allow the company to continue to operate and expand.
“This agreement provides Rio Tinto with the confidence to invest $193 million (C$250 million) to extend the life of its Vaudreuil refinery and $154 million (C$200 million) to continue operations at the Arvida smelter.”
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Rio Tinto Aluminium managing director Atlantic Operations Gervais Jacques said, “We will continue to work in partnership with the Government of Quebec as we explore potential options for future investments and strengthen our competitive position to meet rising demand for aluminium from customers in North America.”
The company has operated in Quebec for mor than 100 years and currently employs more than 8,000 employees which in turn contributes around $166 million in payroll taxes.
