Rio Tinto-Backed Aluminum Firm to Invest $1.1 Billion in Canada

Aluminerie Alouette, an aluminum maker that’s partially owned by Rio Tinto Plc, is planning to commit as much as C$1.5 billion ($1.1 billion) to modernizing its facilities in northern Quebec, according to people familiar with the matter.

The company has secured a new electricity supply deal with Hydro-Quebec, the power utility owned by the Quebec government, the people said, speaking on condition they not be identified because the matter is still private.

A spokesperson for Aluminerie Alouette declined to comment on the details, but said an official announcement will come Friday.

The company’s investment will be welcome ...