TORONTO (miningweekly.com) – Transnational miner Rio Tinto said on Thursday it would spend C$800-million over five years to extend the life of its Quebec titanium dioxide operations to 2050.

The investment would also create 70 jobs, the company said in a statement.

“This is an important milestone in bringing this world-class resource to its full potential and continuing to deliver benefits to the people of Quebec,” said Rio Tinto Fer et Titane president Dominique Bouchard.

The company noted that the investment was aligned with the Quebec government’s Plan du Nord, which is geared toward developing natural resources in the northern parts of the province.

The C$400-million investment will be split between the Lac Tio ilmenite mine and the Sorel-Tracy metallurgical complex.

Rio Tinto accounts for nearly one-fifth of global supplies of titanium dioxide, used as a white pigment in paints.

The company also owns titanium operations in South Africa and Madagascar

http://www.miningweekly.com/article/rio-tinto-unveils-c800m-investment-in-quebec-titanium-ops-2011-05-26