Aluminerie Alouette, an aluminum maker that’s partially owned by Rio Tinto Plc, is planning to commit as much as C$1.5 billion ($1.1 billion) to modernizing its facilities in northern Quebec, according to people familiar with the matter.
The company has secured a new electricity supply deal with Hydro-Quebec, the power utility owned by the Quebec government, the people said, speaking on condition they not be identified because the matter is still private.
A spokesperson for Aluminerie Alouette declined to comment on the details, but said an official announcement will come Friday.
The company’s investment will be welcome news for an industry that’s facing the pressures of US President Donald Trump’s trade war. The White House has put 50% tariffs on imports of foreign aluminum, a move that will hurt US businesses that use the metal. In one example, beer and alcohol maker Constellation Brands Inc….
