A subsidiary of the Rio Tinto Group, Rio Tinto, Fer et Titane (RTFT) has planned to make an investment of $30 million to upgrade and expand its metal powders plant in southern Quebec.
RTFT is a global producer of high-quality metal powders, steel and cast iron and also manufactures raw materials for use in the titanium dioxide industry.
The automotive industry primarily fuels the demand for metal powders, as manufactures are using these materials to boost fuel efficiency and reduce automobile weight. The metal powders are also used in a number of applications such as in the fabrication of welding rods, power tool and home appliance components. In addition, they are also used as food supplements.
RTFT’s investment will help increase the production capacity of metal powders by over 20% over the next couple of years. The investment will also be utilized to enhance the equipment.
The investment is a part of TiO2050 plan that calls for a CAD800 million investment to increase the life of the company’s mine located in northern Quebec and to upgrade the refining metallurgical complex in southern Quebec. The extracted ores from RTFT's mines are refined into metal powders, steel, pig iron, titanium dioxide feedstock and other products.
Source: http://www.riotinto.com/