In July, Marubeni Corporation (hereinafter, “Marubeni”) concluded a memorandum of understanding with the Government of Québec and Hydro Québec, a power utility company under the Québec government (hereinafter, the “MOU”), regarding the securing of a long-term power supply through 2045 at the latest for Aluminerie Alouette (hereinafter, “Alouette”), a company in which Marubeni has a 13.33% investment share, and which is the largest aluminum smelter in the Americas.

MOU Features
Aluminum smelting requires a large amount of electricity, with the securing of a continuous and stable power supply essential for operations. The MOU provides a solid foundation for Alouette’s long-term operations and will support the maintenance of a reliable supply of low-carbon aluminum produced using hydropower. From 2026 onwards, Alouette will also receive an additional power supply to enable greater operational efficiency and support both the expansion of production and decarbonization efforts.

Background and Significance
Global demand for aluminum continues to grow, driven by urbanization and industrialization in developing countries and the increasing pace at which electric vehicles are being adopted.  Alouette has been producing aluminum using hydropower, which is associated with exceptionally low GHG emissions, and has voluntarily set the ambitious target of achieving net carbon zero by 2050. The MOU will play a pivotal role in ensuring the long-term stable supply of low-carbon aluminum to allow Alouette to continue to contribute to the local economy and stable employment in Québec.

Future Outlook
Through the MOU, Marubeni will endeavor to further enhance and promote the decarbonization of its aluminum smelting business, one of the core areas within its metals sector. Marubeni remains committed to securing and expanding access to competitive metal resources and ensuring a stable supply of low-carbon aluminum, for which demand is expected to continue growing in the future.

Overview of Alouette

Location:	400 Chemin de la Pointe-Noire, C.P.1650 Sept-Iles, Quebec, Canada
Production Capacity:	Approx 630,000 tons (annual)
Ownership:	Marubeni 13.33% Investissement Québec 6.67% Rio Tinto 40% Hydro Aluminium 20% AMAG Austria Metall AG 20%
Employees:	Approx. 950
Operation Commencement:	1992
Website:	https://www.alouette.com/en

Related News Release:
Oct. 20, 2022
Aluminerie Alouette Awarded the ASI Chain of Custody
https://www.marubeni.com/en/news/2022/release/00078.html