Rio Tinto Ltd
(ASX:RIO) has announced that it will pour $1.1 billion into its Canadian aluminium smelters to improve production efficiency.
The move is part of the global miners plan to modernise and expand its production.
Rio says it will invest US$758 million to complete the first phase of its AP60 plant in Quebec.
While an extra US$300 million will be injected in preparation for the US$2.5 billion modernisation of the Kitimat smelter in British Columbia.
Rio says that when completed, Kitimat will be one of the lowest-cost smelters in the world.
Rio Tinto generated a $7.36 billion net profit in fiscal 2010.
