Rio Tinto may build flagship aluminum project in Paraguay

Mining giant Rio Tinto is holding talks with the government of Paraguay to build a flagship primary aluminum unit in the South American nation, eyeing on the Brazilian market. Sources at the Paraguayan government told newspaper “Valor Econômico” the parties will discuss the project over an eight-month timeline. The venture is set to receive at least US$ 3.5 billion in capital expenditures and would produce 674,000 tonnes of primary aluminum per annum.