Thursday, October 16, 2008

Rio Tinto Alcan expansion projects under review for possible delay

article: The Canadian Press
Rio Tinto Alcan says its expansion projects in Canada could be delayed as the company reviews capital expenditures in light of the global financial crisis.

The London-based mining giant says it is reviewing all capital projects. Among its largest in Canada are the modernization of the Kitimat smelter in British Columbia and construction of a couple of smelters in Quebec's Saguenay region.

Rio Tinto pulls in its horns -
Now a proposed $2.5-billion expansion of Alcan's aluminum smelter in Kitimat, B.C., is one of the projects that will be re-examined with what Mr. Albanese called 'a sharp pencil.' Rio's board was slated to decide this month whether to approve the project, which would increase aluminum output by more than 40 per cent while cutting greenhouse gas emissions by about 40 per cent.

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