Rio Tinto, Fer Et Titane Launches Two Major Environmental Improvement Projects At Its Sorel-Tracy Operations In Quebec
SOREL-TRACY, QC, Dec. 6, 2012 /PRNewswire/ - Rio Tinto, Fer et Titane (RTFT), a wholly-owned subsidiary of the Rio Tinto Group will initiate two major environmental improvement projects at its metallurgical complex in Sorel-Tracy in Quebec, Canada. The two projects are expected to require an investment of CAD$107 million.
Dominique Bouchard, president of Rio Tinto, Fer et Titane, said: "These two major projects will allow us to improve our environmental performance by lowering sulphur dioxide (SO 2) emissions and improving dust collection. This investment demonstrates our relentless focus to improve our operations and maintain our leading position in our industry, but more importantly to reducing our environmental footprint."
The first project will require the construction of a new emissions treatment plant which will house a central processing system that will be connected to the rotary furnace's exhaust ducts of the neighboring Ore Pre-treatment Plant. This new treatment plant will reduce the environmental footprint of RTFT's operations by lowering the SO 2 emissions of the metallurgical complex in Sorel-Tracy by more than 60 per cent. Construction on this CAD$85 million plant is expected to begin in 2013 and should be completed in late 2014.
The second project will see the installation of new dust collecting systems which will help reduce the concentration of particles from RTFT's facilities and will enable RTFT to comply with Quebec's new environmental regulations that will take effect in 2013. This project is expected to require an investment of CAD$22 million and will be completed in summer 2013.This investment is part of RTFT's May 2011 announcement of an expected five-year CAD$800 million portfolio of projects aimed at improving and sustaining its Quebec operations. Over the last 18 months, several projects in this portfolio have been launched and represent more than CAD$200 million of investments and 81 new jobs at RTFT facilities in Havre-Saint-Pierre. Rio Tinto, Fer et Titane has operated in Quebec for more than 60 years, and is a world leader in producing high quality titanium dioxide feedstock, cast iron, steel and metal powders. The business is part of Rio Tinto Iron & Titanium (RTIT), which supplies approximately 19 per cent of global demand from its operations in Quebec, South Africa and Madagascar. Titanium dioxide is mainly used to produce titanium pigment, the world's most commonly used white pigment, and adds opacity to paper, paints and plastics. About Rio Tinto Rio Tinto is a leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. Rio Tinto's business is finding, mining, and processing mineral resources. Major products are aluminium, copper, diamonds, thermal and metallurgical coal, uranium, gold, industrial minerals (borax, titanium dioxide and salt) and iron ore. Activities span the world and are strongly represented in Australia and North America with significant businesses in Asia, Europe, Africa and South America. SOURCE Rio Tinto Fer et Titane
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV