Rio Tinto to invest $2.7 billion more in Canada smelter

Thu Dec 1, 2011 12:52pm EST
 
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(Reuters) - Global miner Rio Tinto (RIO.AX: Quote) (RIO.L: Quote) said it would invest an additional $2.7 billion to modernize its Kitimat aluminum smelter in Canada's British Columbia.

With this investment, the Anglo-Australian mining giant expects to complete the development of the $3.3 billion project in 2014.

Rio Tinto expects the modernization of the smelter to increase its production capacity by more than 48 percent to about 420,000 tonnes per year, it said in a statement.

(Reporting by Gowri Jayakumar in Bangalore; Editing by Saumyadeb Chakrabarty)