Rio strikes partnership deal with Volvo

13th September 2022 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

Rio strikes partnership deal with Volvo

Photo by: Bloomberg

PERTH ( – Diversified miner Rio Tinto has signed a memorandum of understanding (MoU) with automotive major Volvo Group to partner on low carbon materials and to pilot autonomous hauling solutions.

Under the MoU, Rio will supply responsibly sourced low-carbon products and solutions to Volvo and the companies will work towards decarbonising Rio’s operations through piloting Volvo’s sustainable autonomous hauling solutions.

The multi-materials partnership will allow Rio to progress sustainability commitments in its operations and supply chains. It will support Volvo in its ambition towards a net-zero future.

The partnership aims to secure supplies of materials including lithium, low-carbon aluminium, copper, and metallics.

“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,” Rio CEO Jakob Stausholm said.

“We will be working together to support the decarbonisation 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 CEO Martin Lundstedt said the company was eager to partner with Rio to accelerate its ambitions towards a fossil-free, decarbonised 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 RenewAl aluminium, aluminium produced using the ELYSIS zero-carbon smelting technology, Aluminium Stewardship Initiative-certified aluminium and Copper Mark-certified copper, and explore product development opportunities such as the supply of lithium for batteries.