Rio Tinto (RIO) and AMG Metals & Materials have signed a memorandum of understanding to jointly assess the feasibility of developing an integrated low-carbon aluminum project powered by renewable energy in India. AMG M&M is promoted by the two founders of Greenko and AM Green. Together, the parties will consider the potential development of up to a 1M tons per annum primary aluminum 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 tons per annum primary aluminum smelter in a favorable location in India. As part of the study, AMG M&M 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.
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