The memorandum of understanding (MoU) gives Schneider Electric access to greener products such as low-carbon aluminium and copper produced with renewable power, as well as iron ore and borates.
In return, Rio Tinto agrees to use energy and industrial services from Schneider Electric, "as the companies work together to develop digital platforms, technologies and solutions to be deployed across the metals and mining supply chain".
The " multi-product partnership" will also see Schneider Electric tap into Rio Tinto's START traceability and transparency initiative, which uses blockchain to track aluminium. START will be integrated into Schneider Electric's IoT system architecture, EcoStruxure, said the companies.
"We are excited to work with Rio Tinto to develop clean and pioneering solutions to meet industrial decarbonisation challenges," said Schneider Electric executive vice-president Industrial Automation, Barbara Frei.
Rio Tinto Chief Commercial Officer Alf Barrios said: "This collaboration also opens doors to consider strategic initiatives such as expanding the use of artificial intelligence and predictive analytics to reduce downtime in our plants, digitization of our supply chains, and a host of other transformative technologies."