Sorel-Tracy, Quebec – Rio Tinto and Canada Growth Fund Inc. (CGF) have announced a C$25 million transaction to expand scandium oxide production capacity at Rio Tinto’s Critical Minerals and Metallurgical Complex, positioning the facility as North America’s sole commercial source of the strategic material.The investment will increase the Sorel-Tracy facility’s nameplate capacity to nine tonnes per annum of scandium oxide, a rare metal used in high-performance aluminum alloys, solid oxide fuel cells, and emerging technologies tied to electrification and advanced manufacturing applications.The expansion occurs against a backdrop of concentrated global supply. China currently produces the majority of refined scandium worldwide, while the global market remains comparatively small. Rio Tinto’s demonstration plant, operational since 2022, represents the entirety of North American production and one of limited sources within Organisation for Economic Co-operation and Development (OECD) member nations.Sophie Bergeron, Managing Director of Rio Tinto Iron and Titanium and Diamonds, emphasized the project utilizes a process developed domestically and draws entirely from Canadian mining and metallurgical assets to establish what the company characterizes as a “secure, North American supply.”CGF President and CEO Yannick Beaudoin described the transaction as aligned with the fund’s mandate to support projects of strategic priority, noting it demonstrates “how targeted investment and disciplined structuring can deliver tangible benefits for the Canadian industry and economy” while advancing supply chain resilience objectives.The announcement reflects broader efforts by Western governments and industry to develop critical mineral production capabilities outside established supply chains, particularly for materials deemed essential to defense, clean energy, and advanced technology sectors. Scandium’s role as a performance-enhancing element in various applications has elevated its strategic classification as global industries pursue electrification and carbon reduction goals. (ICE TORONTO)

Fonte notizia: https://www.cpecn.com/