Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Rio Tinto Partners with Codelco to Develop Lithium Project in Chile

by admin May 23, 2025
May 23, 2025
Rio Tinto Partners with Codelco to Develop Lithium Project in Chile

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO)said on Monday (May 19) that it has signed binding agreements with Corporación Nacional Del Cobre de Chile (Codelco) to develop and operate a high-grade lithium project.

The asset is located in the Salar de Maricunga, a large lithium-containing resource base in Atacama, Chile. Its brine is said to have one of the highest average grades of lithium content in the world.

According to Rio Tinto, it will acquire a 49.99 percent interest in the company Salar de Maricunga, through which Codelco holds its licenses and mining concessions related to the resource base.

Codelco is a state-owned firm formed in 1976. Its full name translates to “National Copper Corporation of Chile.”

“We are honoured to be chosen as Codelco’s partner to deliver a world-class project using Direct Lithium Extraction technology in the Salar de Maricunga, leveraging our expertise as a leading producer of lithium for the global market,” said Rio Tinto Chief Executive Jakob Stausholm. “Developing this significant lithium resource will deliver further value-adding growth in our portfolio of critical minerals essential for the energy transition.”

In 2023, Rio and Codelco entered a joint venture for the exploration of Nuevo Cobre, situated within the Potrerillos mining district, also in Atacama. Codelco owns about 43 percent of Nuevo Cobre, while Rio Tinto owns about 58 percent.

For the Salar de Maricunga partnership, Rio will invest AU$350 million in initial funding for additional studies and resource analysis that will assist in creating a final investment decision.

Once a decision is made, AU$500 million will be dedicated toward construction costs. Another AU$50 million will be allocated should the venture deliver its first lithium target by the end of 2030.

The new partnership with Codelco forms part of Rio Tinto’s long-term lithium plan, which includes a production goal of over 200,000 metric tons of lithium carbonate equivalent annually by 2028.

The company recently completed its acquisition of Arcadium Lithium, making it the world’s third top lithium producer.

Subject to regulatory approvals and the satisfaction of customary conditions, the Salar de Maricunga transaction is expected to close by the end of the first quarter of 2026.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Armenian organized crime rings charged with stealing $83 million in Amazon cargo
next post
Thick High-Grade Graphite Drilling Results In New Zone

Related Posts

Danielle DiMartino Booth: US Economy at Precipice —...

March 28, 2025

Metals and Mining Virtual Investor Conference: Presentations Now...

May 10, 2025

Syntheia Announces 10,000 Subscriptions

March 22, 2025

Feedback of U.S. Department of Defense Award Funding

May 19, 2025

Heritage Mining Ltd. Announces Closing of the Second...

April 23, 2025

Allied Critical Metals Announces Frankfurt Stock Exchange Listing

May 16, 2025

Crypto Market Recap: Strategy, MetaPlanet Buy the Dip,...

April 1, 2025

Challenger Gold Doubles Ecuador Resource to 9.1¹ Million...

April 9, 2025

Tariff Fallout: GM’s Shift Cut in Oshawa Triggers...

May 6, 2025

Altech Batteries Limited (ASX: ATC) – Trading Halt

August 1, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Money’s Not Leaving the Market — It’s Rotating!

      July 4, 2025
    • From Oversold to Opportunity: Small Caps on the Move

      July 4, 2025
    • Hakeem Jeffries breaks Kevin McCarthy record while stalling Trump’s ‘big, beautiful bill’

      July 4, 2025
    • White House wants Obama intel officials ‘held accountable’ for role peddling 2016 Russia hoax

      July 4, 2025
    • EPA places numerous employees on leave for alleged misuse of official titles in unauthorized letter

      July 4, 2025

    Categories

    • Business (1,012)
    • Investing (2,532)
    • Politics (3,145)
    • Stocks (1,116)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved