Latest news with #AluminerieAlouette
Yahoo
10-07-2025
- Business
- Yahoo
Rio Tinto's (RIO) Aluminerie Alouette Invests $1.1 Billion in Quebec Aluminum Smelter Upgrade
Rio Tinto Group (NYSE:RIO) is one of the top 10 materials stocks to buy according to analysts. On July 2, Aluminerie Alouette, an aluminum producer partially owned by Rio Tinto Plc, announced plans to invest up to C$1.5 billion (approximately $1.1 billion) to modernize its operations in northern Quebec, according to sources familiar with the matter. A worker in full safety gear operating an excavator in a mining operation. The Sept-Îles smelter employs approximately 900 people and has an annual production capacity of 630,000 metric tons of primary aluminum. The investment will fund technological upgrades to the smelter's infrastructure, energy efficiency improvements in production processes, enhanced production capabilities to maintain competitiveness, and strengthened environmental controls and monitoring systems. Bloomberg cited sources who said that Aluminerie Alouette has secured a new electricity supply deal with Hydro-Québec, the Quebec government-owned power utility, to support the project. The modernized project is expected to support 900 direct jobs at the smelter. It will also create thousands of indirect jobs in the regional supply chain, enhance the tax base for municipal and provincial governments, and provide supply chain security for industries like aerospace and beverage packaging. Rio Tinto Group (NYSE:RIO) is classified as a material stock because it operates in the basic materials sector, focusing on the exploration, mining, and processing of key industrial metals like iron ore, aluminum, copper, lithium, and titanium dioxide. With operations spanning over 35 countries, the company plays a crucial role in supplying raw materials for global infrastructure, manufacturing, and clean energy. Among its standout assets are the Pilbara iron ore mines in Australia and the Oyu Tolgoi copper-gold mine in Mongolia. Rio Tinto plays a pivotal role in the energy transition, particularly through its strategic investments in battery materials, such as lithium. While we acknowledge the potential of RIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Organic Food and Farming Stocks to Buy Now and 13 Best Blue Chip Stocks to Buy According to Analysts. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Rio Tinto's (RIO) Aluminerie Alouette Invests $1.1 Billion in Quebec Aluminum Smelter Upgrade
Rio Tinto Group (NYSE:RIO) is one of the top 10 materials stocks to buy according to analysts. On July 2, Aluminerie Alouette, an aluminum producer partially owned by Rio Tinto Plc, announced plans to invest up to C$1.5 billion (approximately $1.1 billion) to modernize its operations in northern Quebec, according to sources familiar with the matter. A worker in full safety gear operating an excavator in a mining operation. The Sept-Îles smelter employs approximately 900 people and has an annual production capacity of 630,000 metric tons of primary aluminum. The investment will fund technological upgrades to the smelter's infrastructure, energy efficiency improvements in production processes, enhanced production capabilities to maintain competitiveness, and strengthened environmental controls and monitoring systems. Bloomberg cited sources who said that Aluminerie Alouette has secured a new electricity supply deal with Hydro-Québec, the Quebec government-owned power utility, to support the project. The modernized project is expected to support 900 direct jobs at the smelter. It will also create thousands of indirect jobs in the regional supply chain, enhance the tax base for municipal and provincial governments, and provide supply chain security for industries like aerospace and beverage packaging. Rio Tinto Group (NYSE:RIO) is classified as a material stock because it operates in the basic materials sector, focusing on the exploration, mining, and processing of key industrial metals like iron ore, aluminum, copper, lithium, and titanium dioxide. With operations spanning over 35 countries, the company plays a crucial role in supplying raw materials for global infrastructure, manufacturing, and clean energy. Among its standout assets are the Pilbara iron ore mines in Australia and the Oyu Tolgoi copper-gold mine in Mongolia. Rio Tinto plays a pivotal role in the energy transition, particularly through its strategic investments in battery materials, such as lithium. While we acknowledge the potential of RIO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Organic Food and Farming Stocks to Buy Now and 13 Best Blue Chip Stocks to Buy According to Analysts. Disclosure: None.
Global News
04-07-2025
- Business
- Global News
Major Quebec aluminum smelter announces $1.5B investment with new electricity deal
The company operating a major Quebec aluminum smelter says it will invest at least $1.5 billion in its North Shore facilities over the next 20 years. Representatives of Aluminerie Alouette say the announcement is tied to an agreement in principle with the province's hydro utility on electricity rates until Dec. 31, 2045. At a news conference in Sept-Îles, Que., the company said it has committed to investing $750 million by 2030, for a total of at least $1.5 billion by 2045. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Quebec Premier François Legault told the news conference the electricity deal is a positive sign for an industry that has been hit by 50 per cent tariffs on imports to the U.S. The government says the agreement allows Hydro-Québec to share in the profits when aluminum prices are high, and permits the company to stay competitive when market prices for the metal drop. Story continues below advertisement The smelter employs approximately 950 people and has an annual production capacity of 630,000 tons of aluminum, representing 20 per cent of the aluminum produced in the province. Multinational Rio Tinto is the main shareholder with a 40 per cent stake in the company.
Yahoo
04-07-2025
- Business
- Yahoo
Rio Tinto-backed Aluminerie Alouette to invest $1.1 billion in Quebec
-- Aluminerie Alouette, an aluminum producer partially owned by Rio Tinto (NYSE:RIO), plans to invest up to C$1.5 billion ($1.1 billion) to modernize its facilities in northern Quebec, Bloomberg reported Wednesday. The company has reached a new electricity supply agreement with Hydro-Quebec, the Quebec government-owned power utility, according to Bloomberg, citing sources familiar with the matter who requested anonymity. This investment comes at a time when the aluminum industry faces challenges from the White House's implementation of 50% tariffs on foreign aluminum imports. These tariffs are expected to negatively impact both Canadian and American businesses that use aluminum as a raw material. The modernization project represents a significant capital commitment to the Canadian aluminum sector, which has been navigating trade tensions in the North American market. Related articles Rio Tinto-backed Aluminerie Alouette to invest $1.1 billion in Quebec - Bloomberg IMF urges ECB to keep rates at 2% barring inflation shocks Trump's policy megabill heads to the U.S. House after narrow Senate passage
CTV News
04-07-2025
- Business
- CTV News
Major Quebec aluminum smelter announces $1.5B investment with new electricity deal
Aluminerie Alouette will invest at least $1.5 billion in its facilities in Sept-Îles over the next 20 years. An archive photo of the Aluminerie Alouette plant on Tuesday, May 21, 2019, in Sept-Îles. THE CANADIAN PRESS/Jacques Boissinot SEPT-ÎLES — The company operating a major Quebec aluminum smelter says it will invest at least $1.5 billion in its North Shore facilities over the next 20 years. Representatives of Aluminerie Alouette say the announcement is tied to an agreement in principle with the province's hydro utility on electricity rates until Dec. 31, 2045. At a news conference in Sept-Îles, Que., the company said it has committed to investing $750 million by 2030, for a total of at least $1.5 billion by 2045. Quebec Premier François Legault told the news conference the electricity deal is a positive sign for an industry that has been hit by 50 per cent tariffs on imports to the U.S. The government says the agreement allows Hydro-Québec to share in the profits when aluminum prices are high, and permits the company to stay competitive when market prices for the metal drop. The smelter employs approximately 950 people and has an annual production capacity of 630,000 tons of aluminum, representing 20 per cent of the aluminum produced in the province. Multinational Rio Tinto is the main shareholder with a 40 per cent stake in the company. --- This report by The Canadian Press was first published July 4, 2025.
