Rio Tinto halts plans for TiO2 facility in Quebec

06 February 2013 14:20  [Source: ICIS news]

TORONTO (ICIS)--Rio Tinto has halted plans for a facility to produce titanium dioxide (TiO2) feedstocks at Becancour in Canada’s Quebec province, the Anglo-Australian mining major said on Wednesday.

In a statement, Rio Tinto’s TiO2 business unit, Rio Tinto Iron & Titanium (RTIT), said that a study showed that weak market conditions made the project economically unviable.

The company and Quebec government ministers had announced plans for the greenfield project, with a potential investment of around $4bn (€3bn), in June last year.

RTIT added that the decision not to pursue the Becancour project would not impact expansions and projects at mines in South Africa and Mozambique.

The company produces TiO2 feedstocks, high purity iron, steel, metal powders, zircon and rutile.

($1 = €0.74)

By: Stefan Baumgarten
+1 713 525 2653

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