Rio Tinto to Make India Comeback

Mining giant inks MoU with AMG Metals

- ARUNIMA BHARADWAJ

NEARLY A DECADE after its exit from the country and the government revamping its mining policy to lure global investors, British-Australian giant Rio Tinto is set to re-enter India with significant investment plans for the aluminium sector.

The global mining major, known for its technological edge, has signed a memorandum of understanding (MoU) with AMG Metals & Materials to "jointly assess the feasibility of developing a primary aluminium smelter up to a 1 million tonne per annum (MTPA) capacity along with 2 MTPA of alumina production".

According to a joint statement, the venture will be powered by wind and solar energy firmed by pumped hydel storage.