Rio Tinto commits further $1.7m to Australia-Japan Innovation Fund
Rio Tinto (ASX:RIO) has committed an additional $1.7m to the Australia-Japan Innovation Fund (AJIF) to promote research and academic projects between the two countries and further collaboration between industry, educational institutions and governments.
The commitment was signed at the 60th Australia-Japan Annual Joint Business Conference which was held in Melbourne from October 8 – 10.
Rio has been the sole funder of the initiative since it was established in 2018 and has funded about $5m in operating costs and research grants since then.
Rio Tinto chief executive Australia Kellie Parker says the company is pleased to make another commitment.
“Science and technology are paramount in tackling today’s global challenges. We are pleased to make a second commitment to the AJIF to support research projects that can help tackle these challenges and build relationships between Australia and Japan,” she said.
The AJIF will use this new funding to allocate grants to research areas with close links between Australia and Japan such as green steel, automated infrastructure and renewable energy systems. The grants will also play a key role in supporting research between the two countries in science and technology areas relevant to the resources industry to help generate the innovations the world needs to decarbonise.
AJIF chairman Murray McLean commented on the funding.
“We welcome Rio Tinto’s sustained commitment to supporting collaborative cutting-edge research project involving Australian and Japanese partners, thereby realising some of the vast potential for such research between the two countries,” he said.
 has committed an additional $1.7m to the Australia-Japan Innovation Fund (AJIF) to promote research and academic projects between the two countries and further collaboration between industry, educational institutions and governments.){kind=link}