Rio Tinto plans to explore the potential opportunity to develop a low carbon, greenfield aluminum smelter in Kokkola, Finland. The company entered into a partnership agreement with the Swedish investment company Vargas, as well as Mitsubishi Corporation and other international and local industry partners, to conduct the study for this Arctial project.
As the strategic industrial partner, Rio Tinto will provide the Arctial partnership with access to its proven industry-leading AP60 technology and assist in what would be the first AP60 deployment in an aluminum smelter outside Quebec, Canada. Developed by Rio Tinto, AP60 is among the most efficient aluminum smelting technologies currently available at commercial scale.
“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 aluminum,” said Jérôme Pécresse, chief executive of Rio Tinto Aluminium. “Combining our AP60 technology with electricity not based on fossil fuels presents an attractive opportunity to provide low carbon aluminum, which will boost Europe’s industrial base and support the manufacturing capabilities required for the energy transition.”
As a first step, Arctial will conduct a feasibility study and environmental impact assessment for a potential greenfield aluminum project in Kokkola. This location is being considered due to its access to carbon-free electricity, optimized infrastructure, and logistics setup.
If successful, the project would be the first primary aluminum development in continental Europe for over 30 years. Together with Fortum, the leading carbon-free energy provider in the Nordics, the project will assess sourcing competitive low-carbon energy from existing and new production assets. Other local and industry partners include the Finnish Industry Investment (TESI) and international technology leaders.
