Rio Tinto secures major lithium stake in Chile

Chile

SANTIAGO, May 23, 2025 – Rio Tinto has been selected as the preferred partner by Chilean state mining body ENAMI for a 51% stake in the Salares Altoandinos lithium project, the company said on Thursday.

The mining major will initially invest USD 425 million to fund project studies prior to a final investment decision. The deal, subject to regulatory approvals and other conditions, marks Rio Tinto’s second major lithium collaboration in Chile following its interests in Salar de Maricunga and Nuevo Cobre.

“We are honoured to have been selected by ENAMI as the preferred partner for the Salares Altoandinos project, which has the potential to be a world-class lithium development. We welcome the opportunity to develop our partnership with ENAMI, building on our interests in Nuevo Cobre and Salar de Maricunga,” Rio Tinto chief executive Jakob Stausholm said.

The project, located in the Atacama region, is part of Rio Tinto’s broader lithium expansion strategy in South America, which includes holdings in Argentina and complements projects in Canada and Serbia.

With recent acquisitions such as Arcadium Lithium, the company is aiming to establish itself as a global leader in supplying commodities vital to the energy transition. It anticipates a lithium market deficit by the end of the decade with demand expected to grow at over 10% annually through 2040.

Rio Tinto is a global mining and metals group headquartered in the UK and Australia. It operates in over 35 countries across six continents, focusing on the extraction and processing of minerals including iron ore, aluminium, copper, uranium and lithium. The company is actively engaged in supporting the global shift towards low-carbon energy through investments in critical minerals.

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