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Smelted aluminium. Credit: Funtay via Shutterstock.

Global mining group Rio Tinto will invest $1.1bn (CAD$1.4bn) into the expansion of its AP60 aluminium smelter at Complexe Jonquière in Quebec, Canada. The expansion will coincide with the closure of potrooms at the Arvida smelter. The investment will add 96 new AP60 pots, increasing capacity by approximately 160,000 metric tonnes of primary aluminium per year. The company will also add 30,000 tonnes of capacity through the commissioning of a recycling facility. 

Australian miner South32 has hired Canada-based global investment bank RBC Capital to manage the purchase of Botswana’s Khoemacau copper project, sources told the Financial Review.  Khoemacau Copper is owned and operated by Cupric Canyon Capital, beginning production in 2021. The project, situated in the north of Botswana, has an annual production of 60,000 tonnes of copper and 1.6 million ounces of silver per year.

Japanese Petrochemicals company Idemitsu Kosan has increased its stake in Australian miner Delta Lithium to 15%, up from just 2.3% in January. The $32.9m share purchase was made through Idemitsu’s wholly-owned subsidiary, Idemitsu Minerals Australia, taking the company’s total investment in Delta up to $36.4m (JPY4.64bn), following a $3.4m share purchase in January 2023.

BHP has concluded its takeover of Australian copper producer OZ Minerals for A$9.6bn ($6.4bn). The company secured clearances from Australia’s Federal Court and approval from its shareholders to go ahead with the acquisition. In the same period, Vietnam’s Competition and Consumer Authority had also given its approval.