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Industry Minister Mélanie Joly Wants to Build an Aluminum Rolling Mill in Canada
The funding targets four Rio Tinto sites and one smelter as Ottawa seeks to keep more aluminum processing in Canada.
- On Friday, Industry Minister Mélanie Joly announced more than $193 million in federal funding for aluminum projects at four Rio Tinto facilities in Saguenay-Lac-Saint-Jean and the Alouette smelter in Sept-Îles, Quebec.
- Citing trade unpredictability, Joly said the funding aims to reduce Canada's reliance on the United States for processing, noting that most Canadian aluminum currently returns at higher costs.
- The United States imposes a 50 per cent tariff on Canadian aluminum; Canada applies a matching 50 per cent tariff on processed American aluminum, resulting in a total surcharge of 100 per cent.
- Ottawa plans to partner with entrepreneurs to develop domestic rolling mills, aiming to produce aircraft parts and aluminum cans locally, as Joly stated the government wants to "attract key investments in aluminum processing for our defence sector."
- Joly characterized the aluminum industry as a "strategic industry for our country and for Canadian sovereignty," with the government intending to offer procurement contracts to create a business model supporting domestic rolling mills.
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The Toronto Star+6 Reposted by 6 other sources
Industry Minister Mélanie Joly wants to build an aluminum rolling mill in Canada
Industry Minister Mélanie Joly says new federal investments announced Friday are a first step toward reducing the Canadian aluminum sector's dependence on the United States.
·Toronto, Canada
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"Our government sees aluminum as a strategic sector for the Canadian economy."
·Montreal, Canada
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The idea of building an aluminum rolling plant in Canada so as not to depend on U.S. mills is on its way in the spirit of Mélanie Joly, Minister of Industry and Head of Quebec Economic Development. Ms. Joly was visiting La Baie on Friday to announce federal assistance of more than $193 million [...]
Ottawa says it's ready to fund projects and take part in them.
·Montreal, Canada
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Leaning Left4Leaning Right0Center4Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
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