Rio Tinto-Enami lithium JV signs binding deal for Altoandinos salar

Enami lithium

The Rio Tinto-Enami lithium JV became official with a binding agreement for Chile’s Altoandinos salt flats. The JV will explore and develop Chile’s largest unexplored lithium deposit, as previously nominated by Enami. The Rio Tinto-Enami lithium JV targets development in the Atacama desert.

Scale and structure

Under the agreement, Rio Tinto will hold 51% and Enami 49%. Both parties will invest a combined $3bn in the project. Rio Tinto will contribute $425mn in cash and non-cash items. The deal is expected to close in the first half of 2026.

Resource potential and timeline

According to Enami, the salar holds over 15mn tonnes LCE. Potential production could reach 75,000 t/yr at full scale. However, the partners have not set an operating start date.

The Rio Tinto-Enami lithium JV focuses on developing and exploring reserves under the Altoandinos salt flats. Meanwhile, the Atacama location underscores Chile’s strategic role in lithium supply. As a result, the JV could become a key source for battery materials once online.

The Metalnomist Commentary

This agreement formalizes a major public-private alignment in Chile’s lithium sector. Scale, location, and shared ownership provide optionality, though timing remains the critical variable for market impact.