Rio Tinto and Codelco will develop and operate the project under the terms of the JV. RIO will acquire a 49.99% stake in the Salar de Maricunga project by funding development costs.

The transaction is expected to close by the end of the first quarter of 2026. Currently, Rio Tinto's stock is trading at $62.22, down 0.67 percent on the New York Stock Exchange.

Rio Tinto signed binding agreements with Chile's state-run miner Codelco to form a joint venture to develop and operate a high-grade lithium project in the Salar de Maricunga resource base.

Rio Tinto Chief Executive Jakob Stausholm said: “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 ...

Rio Tinto, which could be granted an intellectual property permit if its DLE technology is used for the project, will hold a majority of seats on a technical committee with Codelco, and move to a ...

SANTIAGO — Chile's Codelco will partner with global mining giant Rio Tinto for its new Maricunga lithium project, the Chile miner said on Monday, bringing a major new player into ...

Codelco, the world's biggest copper producer, said that Rio Tinto would invest $900 million to acquire a 49.99 percent stake in the joint venture, called Salar Maricunga SpA.

Diversified global miner Rio Tinto (NYSE:RIO) has made the next significant step into battery metals, committing $900 million for a 49.99% stake in Chile's Salar de Maricunga, a world-class ...

Rio Tinto Group acordó invertir en un proyecto de litio chileno controlado por Codelco, mientras la segunda minera más grande del mundo continúa su expansión en el sector de los metales para ...