The boss of Rio Tinto has warned of the “excesses of globalisation” in critical mineral supply chains as the Anglo-Australian miner and Canadian government plan a C$737mn ($537mn) investment to loosen China’s stranglehold over metals vital to aerospace and defence.

Rio announced on Tuesday that it will modernise the Sorel-Tracy site in Quebec to bolster the supply of minerals controlled by China while reducing emissions at the site by introducing a new smelter technology.

The mining group will start producing titanium metal and quadruple scandium oxide output to 12 tonnes annually; the materials are essential to aerospace, medical products and fuel cells. China produces three-quarters of finished titanium products and 61 per cent of scandium globally, according to Project Blue, a consultancy.