Rio Tinto and Codelco Form Joint Venture to Invest $900M in Maricunga Salt Lake Lithium Project

Published: May 20, 2025 09:58

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[Rio Tinto and Codelco to Collaborate on Maricunga Salt Lake Lithium Project, Plan to Invest Up to $900 Million in Joint Venture] Rio Tinto and Codelco announced on May 19 that they had signed a binding agreement to establish a joint venture to develop and operate the Maricunga salt lake lithium project in Chile. The transaction is expected to be completed by the end of Q1 next year. According to the agreement, Rio Tinto will acquire a 49.99% stake in Maricunga Salt Lake Ltd. Codelco holds the licenses and mining concessions for the Maricunga salt lake through this company. Rio Tinto stated that it will invest an initial $350 million in Maricunga Salt Lake Ltd. for subsequent research and resource analysis to advance the project until the final investment decision. Once the decision to proceed with the project is made, Rio Tinto will invest an additional $500 million in the company to cover construction costs. If the joint venture achieves the goal of delivering the first batch of lithium by 2030, Rio Tinto will also inject an additional $50 million into the company. (Caijing)

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