The global mining and metal giant Rio Tinto has entered a strategic partnership with Swedish investment firm Vargas, global integrated business enterprise Mitsubishi Corporation, and a consortium of local and international industry partners to explore a low-carbon aluminium greenfield opportunity in Kokkola, Finland. The collaboration marks a significant step towards advancing sustainable aluminium production in Europe.
Rio Tinto will provide with access to its provenits cutting-edge AP60 technology to the Arctial partnership as the strategic industrial partner. This marks the first deployment of AP60 outside of Quebec, Canada. Developed by Rio Tinto, AP60 is widely regarded as one of the most efficient aluminium smelting technologies at a commercial scale, offering substantial potential for reduced carbon emissions in the aluminium industry.
The initial phase of the project will involve a feasibility study and an environmental impact assessment for the proposed aluminium plant in Kokkola. If successful, the project would represent the first primary aluminium development in continental Europe in over three decades, underscoring the region’s commitment to sustainable industrial growth.
In addition to Rio Tinto, Fortum will support the project. On December 4, 2024, AL Circle reported that one of the cleanest energy producers in Europe and a Finnish state-owned energy company located in Espoo, Finland, Fortum, leveraging decades of expertise in the Nordic energy market, will support a feasibility study aimed at exploring low-carbon aluminium manufacturing opportunities in Kokkola and Kronoby, Finland. Fortum will focus on developing long-term hedging strategies as the energy partner and ensuring electricity sourcing from its current and future generation assets.
The project, if successful, would be the first primary aluminium development in continental Europe for over 30 years. Other local and industry partners include the Finnish Industry Investment (TESI) and international technology leaders.
Jérôme Pécresse, CEO of Rio Tinto Aluminium, stated, "We aim at being a significant investor and off-taker in this partnership, which is aligned with our strategy to strengthen our global leadership in low-carbon aluminium."
"Combining our AP60 technology with electricity not based on fossil fuels energy presents an attractive opportunity to provide low carbon aluminium, which will boost Europe's industrial base and support the manufacturing capabilities required for the energy transition."
Image credit: Rio Tinto PR
Information credit: Rio Tinto PR
Responses
