Rio Tinto has entered into a cooperation agreement with Swedish investment company Vargas, Mitsubishi, and other international and local industry partners to study low-carbon aluminum greenfield opportunities in Finland.

Rio Tinto will provide project company Arctial with its AP60 technology and assist in the first deployment of AP60 in an aluminum smelter outside Quebec, Canada.

Developed by Rio Tinto, AP60 is one of the most efficient aluminum smelting technologies available on a commercial scale.

If successful, this project will be the first primary aluminum development project in continental Europe for over 30 years.

Meanwhile, the project will partner with Fortum, a leading carbon-free energy provider in Nordics, to source competitive low-carbon energy from existing and new production assets.