- Rio Tinto (NYSE:RIO) stock is up 1.5% premarket after the firm has signed a Memorandum of Understanding (MoU) with Volvo (OTCPK:VLVLY) to work together to decarbonize one another’s operations.
- Per the terms, Rio will supply responsibly sourced products including lithium, low-carbon aluminum, copper and metallics to Volvo, which will in turn help the mining giant decarbonize its operations by piloting the Swedish company’s sustainable autonomous hauling solutions.
- For Rio, the alliance will allow it to progress sustainability commitments in its operations and supply chains while also helping Volvo with its ambition of a net-zero future.