Rio Tinto, AMG Metals & Materials Sign MoU To Assess Low-carbon Aluminium Project In India

(RTTNews) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) and AMG Metals & Materials, an energy transition solutions provider, said that they have signed a Memorandum of Understanding to jointly assess the feasibility of developing an integrated low-carbon aluminium project powered by renewable energy in India.

AMG Metals & Materials is promoted by the two founders of Greenko and AM Green.

The companies will consider the potential development of up to a 1 million tonnes per annum (Mtpa) primary aluminium smelter and 2 Mtpa of alumina production, both powered by renewable wind and solar energy firmed by pumped hydro storage. The development will comprise a study to evaluate a potential first phase 500,000 tonnes per annum primary aluminium smelter in a favourable location in India.

As part of the study, AMG Metals & Materials will examine a firmed renewable energy solution with Greenko, while Rio Tinto will explore a commercial alumina solution. The study will also assess smelting technology options to determine the most cost-effective solution for the project.