For the government, the government helps our tariff about the cash flow about the veteran Rio Tinto.
Industry Minister Meleni Jolie says that the federal government is talking to Rio Tinto, a veteran Rio Tinto, a legendary of mining and metals to help the company with cash flow problems due to the global steel and aluminum tariffs of the United States.
During the visit of Sagun, Q on Thursday to meet businesses in the aluminum sector of the province, Jolie told reporters that Ottawa started negotiations with the firm early this week.
A spokesperson of the minister confirmed on Friday that talks were going on but no further details were given.
US President Donald Trump doubled his administration tariff on imported steel and aluminum last month. Canada is the top exporter of both metals in America
Prime Minister Mark Carney said Canada would respond by adjusting his counter-tariff on July 21, when he set a time limit for an agreement with Trump, when the two leaders met at the G7 Summit.
Rio Tinto, one of the world’s largest mining firms, is the United Kingdom and a dual headquarters in Australia. But it operates several mines and refineries with thousands of employees in Canada.
Its website says that it employs some 4,000 people in the Sagune-Lac-Sent-Gyne area. The company announced a plan to spend $ 1.4 billion to expand its aluminum smelting operations in the area in 2023.
The Canadian press conference reached Rio Tinto to comment, but received no response.
Support with Quebec
On Friday, the Quebec Premier François Lagault announced a new energy supply deal between hydro-coweek and aluminery superintendent, an international consortium sept-îles count Rio Tinto as a 40 percent of a smelter operating a smelter in the îles.
The Consortium stated that as part of the deal, it would invest $ 1.5 billion to modernize its operations in the quota field by 2045, with half spent in the next five years. A media release states that these commitments will help maintain 1,000 jobs in the region.
The new power pricing deal is described as a balance of risk and reward for partners-when aluminum pricing is strong, then offers greater returns in hydro-conveck, but help to make alummine supernatural more competitive when prices are low.
The new deal will be effective in 2030 after the current agreement ends.
Aluminery Ulouat counts the Quebec Investment Agency Qualium, Austria’s Metal AG, Norway’s Hydro Aluminum and Japan’s Marubeni metals and minerals among its stakeholders.
