Rio Tinto and Volvo Group have signed a Memorandum of Understanding (MoU) to create a strategic partnership where Rio will supply responsibly sourced low-carbon products and solutions to Volvo Group and the companies will work towards decarbonizing Rio Tinto’s operations through piloting Volvo Group’s sustainable autonomous hauling solutions.
The multi-materials partnership will allow Rio Tinto, a leading global mining and metals company, to progress sustainability commitments in its operations and supply chains. It will support Volvo Group, one of the world’s largest transport and infrastructure providers, in its ambition towards a net-zero future. The partnership aims to secure supplies of materials including lithium, low-carbon aluminium, copper, and metallics.
Rio Tinto Chief Executive Jakob Stausholm said: “We look forward to partnering with Volvo to progress our contribution to a net-zero future, as we collaborate to deliver sustainable outcomes from the mine to the showroom floor. We will be working together to support the decarbonization of Rio Tinto’s operations and deliver low-carbon materials for use in Volvo’s innovative product range, including electric and autonomous vehicles.”
Volvo President and Chief Executive Officer Martin Lundstedt said: “We are eager to partner with Rio Tinto, a true collaboration aiming to accelerate our ambitions towards a fossil-free, decarbonized future. By addressing the full value chain, from the use of low-carbon materials in our products, to providing our customers with sustainable autonomous hauling solutions, we can contribute to a better and more sustainable future.”
The companies will work together to strengthen the supply of responsibly sourced low-carbon materials such as RenewAlTM aluminium, aluminium produced using the ELYSISTM zero-carbon smelting technology, Aluminium Stewardship Initiative (ASI) certified aluminium, and Copper Mark certified copper, and explore product development opportunities such as the supply of lithium for batteries.