12:01 PM EST, 12/13/2024 (MT Newswires) -- Rio Tinto (RIO) said Friday it is exploring the possibility of extracting and valorising gallium from its Canadian alumina refinery.

Following initial testing, the company plans to build a demonstration plant, supported by up to CA$7 million ($4.92 million) in funding from the Quebec government, to produce up to 3.5 tonnes of gallium per year.

If successful, Rio Tinto could potentially produce up to 40 tonnes of gallium annually for use in integrated circuits for applications such as smartphones, electric cars, and other advanced electronics.

Shares of Rio Tinto were down 2.3% in recent trading.

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