Rio Tinto to invest $1.9 billion in Australian bauxite project

The Canadian government allocated $193.3M to Rio Tinto and Aluminerie Alouette. Rio Tinto receives $164.8M for projects to decarbonize and expand aluminum production in Quebec, while Aluminerie Alouette gets $28.5M for modernization. The investments aim to preserve 6,000 jobs and enhance research collaborations.

Rio Tinto proposes a 56% pay increase for its CEO, setting a £9.8 million target package. Investors will scrutinize the plan's performance targets and payout rules at next year's AGM, with potential for protest votes if concerns arise about peer benchmarking or hurdle difficulty.

BHP and Rio Tinto must defend class actions over workplace harassment after a court rejected their attempts to dismiss claims. The ruling allows former employees to proceed with most claims and have legal costs covered by the companies, according to Federal Court Judge Houda Younan.

Rio Tinto signed an agreement to acquire up to 80% of the Liamu copper-gold project in PNG from LCL Resources. The deal involves exploration funding and drilling to assess mineral potential. Initial focus is on the Dada and Ubei prospects, with promising but undrilled surface mineralization. Rio Tinto can earn 51% by spending A$6M, with further investment or resource definition required for 80%.

Rio Tinto plans to invest $1.9B in the Kangwinan bauxite project in Australia, adding 20M tons of annual production capacity by 2032. The project will replace the Andoom mine and expand the Amrun wharf to accommodate larger vessels, aiming to improve efficiency and reduce costs. Construction is set to begin in 2027, supporting over 1,300 jobs.

Canada's government invested $193.3M in aluminum projects. $164.8M goes to Rio Tinto for decarbonization and capacity upgrades, while $28.5M supports Aluminerie Alouette's modernization efforts. The funds aim to boost competitiveness and reduce emissions in the sector.