This Morning in Metals: Rio Tinto to Offer Responsibly Produced Aluminum
This morning in metals news, Rio Tinto will offer independently certified and responsibly produced aluminum, Norsk Hydro hosts Investor Day and copper prices move upward.
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Rio Tinto to Offer Responsibly Sourced Aluminum
As MetalMiner’s Stuart Burns explained earlier today, companies around the world are looking to make their operations more sustainable (whether as a result of earnest beliefs about climate change or spurred by the thought that a more sustainable operation is good for the company’s brand).
As such, Rio Tinto has announced it will offer responsibly sourced and independently certified aluminum from its Canadian operations.
“The certification reinforces Rio Tinto’s commitment to responsible mining and metals production by providing independent verification that material can be traced through a ‘chain of custody’ spanning Rio Tinto’s Gove bauxite mine in Australia to its alumina refinery, aluminium smelters and casthouses in Quebec and British Columbia, Canada,” the company said.
Hydro Hails Climate Strategy
Aluminum maker Norsk Hydro’s Investor Day is an opportunity for the firm to highlight a variety of initiatives and company developments, including those related to sustainability.
In that vein, company is aiming to cut emissions related to sourcing and own processes by 30% by 2030.
“Cutting our emissions is an important part of our goal to drive sustainability. In 2013, we set an ambitious target to become the first carbon neutral aluminium company from a lifecycle perspective by 2020. Now, when our 2020 target is within reach, we are setting a new ambition for cutting our own emissions by 30% by 2030,” President and CEO Hilde Merete Aasheim.
Copper Gets a Boost
Copper prices ticked up Tuesday after positive news from the U.S.-China trade front.
U.S. Treasury Secretary Steven Mnuchin said he would meet with Chinese Vice Premier Liu He in two weeks (the two countries held deputy-level talks last week).
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As such, LME three-month copper rose 0.3% Tuesday, up to $5,794/mt, Reuters reported.
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