On July 25, 2024, Rio Tinto and Aymium created a joint venture, Évolys Québec Inc., to produce renewable metallurgical biocarbon aimed at reducing carbon emissions in large-scale industrial processes. The biocarbon, sourced from biomass residues, will replace anthracite in Rio Tinto's ilmenite smelting at its Sorel-Tracy metallurgical complex. The facility will be established at a former pulp and paper mill in Thurso, Québec, revitalizing the site with the support of the Government of Québec.

Évolys will use Aymium’s proprietary technology to produce high-quality biocarbon, aligning with Rio Tinto's decarbonization strategy. This venture builds on Rio Tinto's previous investment in Aymium following successful trials of the biocarbon at Sorel-Tracy.

Osler, Hoskin & Harcourt LLP advised Rio Tinto Canada Inc. and Évolys Québec Inc., while Torys LLP acted as counsel to Aymium. The transaction value was not disclosed. Further details, including the start of production, will be provided once the transition process is completed.