Rio Tinto (RIO) and AMG Metals & Materials said late Wednesday they have signed an agreement to explore building a large-scale, low-carbon aluminium facility in India.
The companies said the project could include up to 1 million tonnes per year of aluminium production and 2 million tonnes of alumina, all powered by renewable energy sources like wind, solar, and pumped hydro storage.
The initial phase may involve a 500,000-tonne aluminium smelter, the companies said, adding AMG Metals & Materials, backed by the founders of Greenko and AM Green, will work with Greenko on the renewable energy side, while Rio Tinto will look into alumina supply.
The study will also evaluate the best smelting technologies for cost and efficiency, they added.
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