Rio Tinto, AMG M&M Plan $6 Billion Renewable Aluminium Hub in India

Rio Tinto and AMG Metals & Materials have signed a memorandum of understanding to jointly assess the feasibility of developing a major low-carbon aluminium project in India, aiming to produce up to 1 million tonnes of primary aluminium and 2 million tonnes of alumina annually, powered entirely by renewable energy sources such as wind and solar backed by pumped hydro storage. The initial phase will explore the establishment of a 500,000 tonne-per-year aluminium smelter at a favorable location in India. The project is estimated to require around $6 billion in investment and would be developed as an equal joint venture, with $4 billion allocated for the smelter and $2 billion for the alumina facility. This initiative aligns with global trends toward sustainable materials and comes as developed economies consider imposing carbon taxes on imports, making low-carbon aluminium increasingly valuable. AMG M&M will collaborate with Greenko to develop the renewable energy solution, while Rio Tinto will focus on establishing a commercial alumina supply chain. The project is seen as a significant step in India's green industrial ambitions and could help decarbonize supply chains across multiple sectors.