Rio Tinto, Volvo team up for low-carbon materials supply

Sep. 13, 2022 5:15 AM ETRio Tinto Group (RIO), RTNTF, RTPPF, VLVLY, VOLAF, VOLVFBy: Meghavi Singh, SA News Editor6 Comments
  • Rio Tinto (NYSE:RIO) stock is up 1.5% premarket after the firm has signed a Memorandum of Understanding (MoU) with Volvo (OTCPK:VLVLY) to work together to decarbonize one another’s operations.
  • Per the terms, Rio will supply responsibly sourced products including lithium, low-carbon aluminum, copper and metallics to Volvo, which will in turn help the mining giant decarbonize its operations by piloting the Swedish company’s sustainable autonomous hauling solutions.
  • For Rio, the alliance will allow it to progress sustainability commitments in its operations and supply chains while also helping Volvo with its ambition of a net-zero future.

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