Joint venture between Rio Tinto and Aymium

On July 25, 2024, Rio Tinto and Aymuim announced its new biocarbon joint venture in Québec, Évolys Québec Inc. This venture will be involved in manufacturing a renewable metallurgical biocarbon product to decrease carbon emissions in large-scale industrial processes. The joint venture will be established on the site of a former pulp and paper mill formerly owned by Fortress in Thurso, Québec.

In the context of proceedings under the Companies’ Creditors Arrangement Act (Canada), the Government of Québec selected Rio Tinto and Aymium to jointly revitalize these assets. The joint venture will initially lease a portion of the assets at Thurso, Québec, and will benefit from an option to buy certain of the assets after certain conditions are met over the next few years, including the environmental remediation of the site.

Rio Tino operates as a leading mining and materials company.

Aymium offers biocarbon and biohydrogen products that can be used to replace fossil fuels in the production of metals, energy and crops, and in the purification of water and air with no modifications to equipment or processes.

Osler, Hoskin & Harcourt LLP advised Rio Tinto Canada Inc. and Évolys Québec Inc. with a team consisting of Niko Veilleux and Daniel Stysis (Corporate), Sandra Abitan (Insolvency), Alexander Fallon (Environment and Regulatory) and Yan Besner (Real Estate).