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Rio Tinto Adds New Aluminum Production to Hot Metals Market

  • Company to invest $87 million to lift output at Quebec smelter
  • Demand expected to rise 3.3% a year for next decade: Rio Tinto
Equipment at an aluminum smelter in Saguenay, Quebec, Canada.
Equipment at an aluminum smelter in Saguenay, Quebec, Canada.Photographer: Christinne Muschi/Bloomberg
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Rio Tinto Plc is investing $87 million to increase North American aluminum output as the metals giant sees booming demand for electric vehicles, solar panels and recyclable packaging amid a global push to curb climate change.

Rio Tinto will add 26,500 metric tons of capacity at its smelter in the Saguenay-Lac-Saint-Jean region of Quebec by 2023, with the investment lifting production by 45% and supporting about 100 existing jobs, the company said Wednesday in a statement. The additional capacity would be equal to about 0.7% of annual North American production.