Mumbai,18/04/2025: Rio Tinto announced that it has signed a memorandum of understanding (MoU) with India-based AMG Metals & Materials (AMG M&M) to evaluate the feasibility of developing a low-carbon aluminium project in India.
The proposed project could include the production of up to 1 million tonnes per annum (mtpa) of primary aluminium and 2 mtpa of alumina, both powered by renewable energy sources such as wind and solar, backed by pumped hydro storage, the global mining company stated.
In its initial phase, the project will explore the development of a 500,000 tonnes per annum primary aluminium smelter at a strategically favorable location in India.
Financial terms of the agreement were not disclosed.
AMG Metals & Materials was founded by Anil Chalamalasetty and Mahesh Kolli, who are also the founders of Greenko Group, a leading clean energy company based in India.
With global demand for sustainable materials on the rise, AMG M&M plans to work with Greenko to develop a reliable renewable energy solution, while Rio Tinto will focus on identifying a viable commercial alumina supply solution.
“This MoU has the potential to deliver much-needed low-carbon metal at scale, supporting decarbonization efforts across global supply chains in sectors such as automotive, construction, consumer packaging, and more,” said Mahesh Kolli, Group President of AMG M&M and Greenko.
