Government talking to metals giant Rio Tinto about cash flow help amid U.S. tariffs

Craig Lord · The Canadian Press

· Posted: Jul 04, 2025 4:35 PM EDT | Last Updated: 4 hours ago

Industry Minister Mélanie Joly says the national authorities is talking to mining and metals elephantine Rio Tinto astir helping the institution with currency travel problems caused by the United States' planetary alloy and aluminum tariffs.

During a sojourn to Saguenay, Que., connected Thursday to conscionable with businesses successful the province's aluminum sector, Joly told reporters that Ottawa had started talks with the steadfast earlier this week.

A spokesperson for the curate confirmed Friday that the talks were ongoing but did not supply immoderate further details.

U.S. President Donald Trump past period doubled his administration's tariffs connected imported alloy and aluminum to 50 per cent. Canada is the apical exporter of some metals to the U.S.

Prime Minster Mark Carney said Canada would respond by adjusting its counter-tariffs connected July 21, the deadline helium acceptable for an statement with Trump erstwhile the 2 leaders met astatine the G7 summit.

Rio Tinto, 1 of the world's largest mining firms, is dual-headquartered successful the United Kingdom and Australia. But it operates a fig of mines and refineries, with thousands of employees successful Canada.

Its website says it employs immoderate 4,000 radical successful the Saguenay—Lac-Saint-Jean region. The institution announced plans successful 2023 to walk $1.4 cardinal to grow its aluminum smelting operations successful the area.

The Canadian Press reached retired to Rio Tinto for remark connected the negotiations but has not received a response.

Support from Quebec

Separately connected Friday, Quebec Premier François Legault announced a caller vigor proviso woody betwixt Hydro-Québec and Aluminerie Alouette, an planetary consortium operating a smelter successful Sept-Îles that counts Rio Tinto arsenic a 40 per cent stakeholder.

The consortium said arsenic portion of the woody it volition put $1.5 cardinal successful modernizing its operations successful the Côte-Nord region by 2045, with fractional of that spent successful the adjacent 5 years. A media merchandise says these commitments volition assistance support 1,000 jobs successful the region.

The caller energy pricing woody is described arsenic balancing hazard and reward for the partners — offering greater returns to Hydro-Québec erstwhile aluminum pricing is strong, but helping to marque Aluminerie Alouette much competitory erstwhile prices are low.

The caller woody volition instrumentality effect successful 2030 aft the existent statement expires.

Aluminerie Alouette counts Quebec concern bureau QUALIUM, Austria's Metall AG, Norway's Hydro Aluminium and Japan's Marubeni Metals & Minerals among its stakeholders.