Page 164 - CW E-Magazine (3-6-2025)

News from Abroad

CRITICAL MINERAL
Rio Tinto partners Codelco and ENAMI to develop

lithium projects in Chile

Global mining and metals giant, and advance studies to
Rio Tinto, and Chilean state-owned inform future investment
mining company, Corporación Nacional decisions.
Del Cobre de Chile (Codelco), have
signed binding agreements to form a The joint venture
joint venture to develop and operate a will focus on deep en-
high-grade lithium project in the Salar gagement with the local
de Maricunga in Chile. communities, supporting
the development of infra-
Salar de Maricunga is a large structure such as power
lithium-containing resource base in the and roads, and applying
Atacama region with the potential for leading extraction, pro-
scalable, long-life and low-cost pro- cessing and re-injection
duction. Its brine has one of the highest Tinto’s CEO Mr. Jakob Stausholm technologies to the project to maximise
average grades of lithium content in the said, “We are honoured to be chosen the recovery of minerals and minimise
world. as Codelco’s partner to deliver a world its environmental footprint.
class project using Direct Lithium Ex-
Under the agreement, Rio Tinto will traction technology in the Salar de Salares Altoandinos lithium project
acquire a 49.99% interest in Salar de Maricunga, leveraging our expertise In another related development,
Maricunga SpA, a company through as a leading producer of lithium for the Rio Tinto said it has been confirmed as
which Codelco holds its licenses global market. Developing this signi- the “preferred partner” for the Salares
and mining concessions in the Salar ficant lithium resource will deliver Altoandinos lithium project in the
de Maricunga, by funding studies and further value-adding growth in our port- Atacama region of Chile by Empresa
development costs. folio of critical minerals essential for Nacional de Minería (ENAMI), a state-
the energy transition”. owned Chilean mining company.
Rio Tinto will invest:
* $350-mn of initial funding in Salar The Salar de Maricunga joint ven- “We welcome the opportunity to
de Maricunga SpA towards addi- ture will work to update the declared develop our partnership with ENAMI,
tional studies and resource analysis reserves and resources for the project building on our interests in Nuevo
to progress the project through to a Cobre and Salar de Maricunga, and to
final investment decision. support Chile’s position as one of the
* $500-mn into the company once a world’s leading producers of minerals
decision is made to proceed with the critical to the energy transition,”
project, towards construction costs. Mr. Stausholm said.
These milestones, subject to further
studies, are targeted to occur before Under the terms of the proposal,
the end of the decade. Rio Tinto would acquire an initial
* $50-mn into the company if the joint 51% stake in the project, with ENAMI
venture achieves its aim of deli- holding the remaining 49%.
vering its first lithium by the end of
2030. With a strategic pipeline of tier 1 lithium
assets and options, including those
The partners will fund further capital from the recent acquisition of Arcadium
requirements in line with their share Lithium, Rio Tinto now holds one of the
of ownership of the joint venture. Rio world’s largest lithium portfolios.

164 Chemical Weekly June 3, 2025

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