Enami Copper Smelter Restart Seeks $1.7bn and Offers Cathode Offtake

Enami Copper

Enami copper smelter restart moves forward with a $1.7bn investment plan. The state miner will offer long-term copper cathode offtake to investors. The Enami copper smelter restart centers on the Hernan Videla Lira complex in Chile’s Atacama region.

From smelter to metallurgical complex

Enami copper smelter restart aims to transform Hernan Videla Lira into a full metallurgical complex. The project includes a smelter sized for 850,000 t/yr of copper concentrate. It also includes an electrolytic refinery designed for 240,000 t/yr of copper cathode. Enami created Proyecta Enami to design, build, and commission the complex. Financing will hinge on long-term cathode supply agreements.

Timing uncertain, strategic value clear

The Paipote facility shut in February 2024 after supplier payment challenges. No official restart date has been set by Enami. However, this is Chile’s only active smelting-and-refining development today. The upgrade could lift domestic value-addition and secure cathode supply. It may also support small and midsize miners that sell concentrate locally.

The Metalnomist Commentary

Investor interest will track offtake terms, capital phasing, and EPC execution risk. If financing closes, Chile strengthens midstream capacity as global concentrates tighten. Watch for clarity on ramp-up schedule, feed mix, and working capital needs.

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.

Chile lithium contract with Enami anchors new national strategy

Chile lithium mining

Chile lithium contract with Enami marks a major step in the country’s new lithium strategy. The agreement grants Enami rights over the Altoandinos salt flat, Chile’s largest undeveloped lithium deposit. It also establishes the first special lithium operation contract, known locally as a Ceol, under Boric’s strategy.

Altoandinos salt flat and Chile’s lithium strategy

The Chile lithium contract with Enami runs until 2060 and targets production starting around 2032–2034. Enami and partner Rio Tinto plan to develop the Aguilar, Grande and La Isla salt flats. The state miner reports 15mn tonnes of lithium carbonate equivalent, significantly above Chile’s published resource base. As a result, Altoandinos could become a flagship asset within Chile’s broader national lithium strategy.

Chile lithium contract with Enami operates within a strict strategic resource and nuclear oversight framework. Laws from the 1970s and 1980s classify lithium as strategic and limit purely private concessions. Therefore, Ceols must pass review by the nuclear energy commission and other state institutions before development. This framework aims to capture more value for Chile while controlling environmental and social risks in the Atacama.

Global EV supply chains and Chile’s lithium leadership

Chile remains the world’s second largest lithium producer, anchored by SQM and Albemarle in the Atacama salt flat. However, the Chile lithium contract with Enami shows how future growth will rely more on state led partnerships. The Altoandinos project can diversify production beyond the core Atacama operations and support long term export revenues. Meanwhile, global battery and EV manufacturers will view this contract as an important new source of high grade brine.

Competition for secure lithium supply will intensify as more countries classify the metal as strategic. Therefore, Chile lithium contract with Enami sends a strong signal to investors about policy direction and project pipeline. International partners must understand the state’s central role, longer development timelines and heightened community expectations. As a result, any Altoandinos timetable slippage could reshape global supply expectations for EV batteries and energy storage.

The Metalnomist Commentary

Chile’s new contracting model blends resource nationalism with pragmatic partnerships across the lithium value chain. Investors that align with this approach and accept higher state involvement may gain durable exposure to premium brine assets. Yet they must also plan for stricter governance, evolving royalty regimes and closer scrutiny from global downstream customers.

Paipote Copper Smelter Delay Pushes Chile’s Processing Expansion to 2031

Enami copper

Paipote copper smelter development in northern Chile is facing a delay of more than two years, pushing the country’s major state-backed smelting expansion further into the next decade. Chile’s national mining company Enami now expects construction of the $1.7bn project to begin in October and finish in February 2031.

The revised schedule replaces the earlier plan to start construction in February and complete the project by November 2028. The new dates were included in documents submitted to Chile’s environmental evaluation service, Sea.

Paipote copper smelter modernization is strategically important because Chile remains one of the world’s largest copper producers but has limited domestic smelting and refining capacity compared with its concentrate output. The delay extends the period in which more Chilean copper concentrate will continue to depend on overseas processing.

The project is designed to more than double smelting capacity at the Paipote metallurgical complex to 850,000 t/yr of copper concentrates. It will also include an electrolytic refinery capable of producing 240,000 t/yr of copper cathodes.

Engineering Changes Add Cost and Push Back Construction

The delay follows completion of detailed engineering studies for the smelter. Enami said the proposed changes to the original project, which was approved in October 2025, will cost $65mn.

The changes include demolition of existing infrastructure at the metallurgical complex. Some structures must be removed because of age, while others interfere with the new construction plan.

This is a common risk in brownfield metallurgical projects. Existing plants often provide strategic location and infrastructure advantages, but they can also create cost, demolition and layout challenges when new technology is added.

Enami’s filing seeks confirmation from Sea that the proposed changes do not need to be submitted to Chile’s environmental impact evaluation system. The outcome will matter for timing because any additional environmental review could further extend the project schedule.

The Paipote copper smelter delay also reflects the complexity of modern smelting projects. New plants must meet tighter environmental standards, handle higher concentrate volumes and integrate refining capacity while controlling emissions and operating costs.

For Enami, the project is more than a capacity expansion. The company suspended the existing smelter in 2024 to stem financial losses and improve environmental performance. The modernization is therefore intended to rebuild processing capability on a more sustainable and competitive basis.

Chile’s Copper Value Chain Remains Exposed to Processing Bottlenecks

The delay has wider implications for Chile’s copper value chain. Chile produces large volumes of copper concentrate, but domestic processing capacity has not expanded in line with mine output.

A larger Paipote complex would strengthen local copper concentrate processing and increase domestic cathode production. It would also support small- and medium-sized copper producers, which rely on Enami to process, smelt and refine their material.

That role is important for Chile’s mining structure. Major copper producers often have access to export markets and long-term concentrate buyers. Smaller producers depend more heavily on national processing infrastructure to convert output into marketable products.

The project’s planned 850,000 t/yr concentrate capacity would give Enami a much stronger position in Chilean smelting. The 240,000 t/yr cathode refinery would also help capture more value inside the country rather than exporting concentrate for overseas treatment.

However, the new 2031 completion date means these benefits will arrive later than planned. In the meantime, Chile remains more exposed to global treatment charges, overseas smelter availability and concentrate export logistics.

The delay also comes as copper demand is increasingly tied to grids, electrification, renewable energy, electric vehicles and industrial investment. Chile’s ability to capture more value from copper will depend not only on mine output, but also on smelting, refining and downstream processing capacity.

For Enami, execution will be critical. The company must manage engineering changes, environmental requirements, demolition, construction and financing while restoring confidence in Paipote’s long-term role.

For Chile, the project remains strategically necessary despite the delay. A modern Paipote copper smelter could improve domestic processing resilience and support a more integrated national copper industry.

The Metalnomist Commentary

The Paipote delay shows that copper resource leadership does not automatically translate into processing strength. Chile needs modern smelting and refining capacity to capture more value from its copper base, but brownfield execution risk remains a serious bottleneck.

Chile's Enami Puts 450,000t of Copper Stock on Sale

Chile's Enami

Chilean state-owned mining company Enami has announced plans to sell 450,000 metric tonnes of copper as part of efforts to regain financial stability. The copper, which has been oxidized and processed at the Barriles de Tocopilla plant, is valued at around $60 million. This stockpile is notable not only for its large volume but also for the fact that it has already been collected and crushed, making it more accessible to buyers.

Financial Recovery Strategy

Enami's decision to sell its copper stock follows a challenging financial period. The company posted a loss of $200 million in 2023, prompting a need for immediate action to address its financial standing. By liquidating this significant batch of copper, Enami aims to stabilize its finances and continue supporting small-scale mining, a sector that remains central to its operations.

"Our goal is to achieve financial sustainability, a necessary condition to continue playing a key role towards small-scale mining, which is our main asset," said Javiera Estrada, Enami's executive vice-president.

Enami's copper sale is expected to generate significant interest, given the large volume and the current demand for copper in global markets. This move marks a critical step for the company as it seeks to reposition itself financially and sustain its influence in the mining industry.

Chile joins 4 critical mineral R&D projects led by Enami and Corfo

Enami

Chile joins 4 critical mineral R&D projects as Enami steps into late-stage pilots with partners across cobalt, rare earths, and lithium. Chile joins 4 critical mineral R&D projects by contributing mining waste streams and technical staff. Therefore, the program targets faster validation of extraction methods under real operating conditions.

Chile joins 4 critical mineral R&D projects through Corfo-backed initiatives that move from lab results to pilot proof. Enami will supply mining waste from its operations for testing and scale-up. Meanwhile, Enami will provide specialised labour to analyse results and validate methods during pilot execution.

Chile joins 4 critical mineral R&D projects with four distinct workstreams in 2026. One project targets cobalt recovery from mining waste with Andres Bello University and a $3mn budget. Another aims to develop and test rare earth extraction, separation, and processing with junior miner NEORE under a $4mn programme.

Why mining waste becomes a strategic feedstock for critical minerals

Mining waste can unlock critical minerals without new mine footprints. Tailings and ferrous waste can carry recoverable cobalt or rare earths in measurable grades. As a result, R&D that proves consistent recovery can reduce permitting friction and shorten time to supply.

Pilots also de-risk the hardest variables for investors and operators. Metallurgy, reagent intensity, and impurity control often break economics at scale. However, industrial waste trials can reveal practical recovery rates and processing costs earlier than greenfield projects.

What to watch in 2026: REE extraction and direct lithium extraction pilots

Two Enami collaborations with Corfo’s R&D branch CNP focus on rare earths and lithium. One project seeks to extract rare earths from ferrous mining waste in northern Chile with a $3.9mn budget. Another studies direct lithium extraction under a $1.9mn programme.

These efforts sit in the “closing stages” and plan to begin in 2026. Therefore, the key signal will be whether pilots deliver repeatable results across variable waste batches. Meanwhile, successful validation could support a pipeline of modular processing units near existing mining sites.

The Metalnomist Commentary

This approach treats waste as a scalable feedstock, not a cleanup cost. However, the projects will only matter if pilots prove consistent output quality and manageable impurities. Chile can win by standardising data and moving quickly into commercial modules.

Chile’s La Isla Lithium Deposit Set to Become Major Project, Enami Reports

Enami

Chile’s La Isla salt flat, located in the northern Atacama region, is on track to become the country’s third-largest lithium project, according to the national mining company Enami. Recent exploration drilling at La Isla returned promising results, with lithium concentrations averaging 921 milligrams per liter (mg/l) and reaching a maximum of 979 mg/l over a depth of 252 meters.

Chile holds the world’s largest lithium reserves, accounting for 36-40% of the global total. Most of these reserves are concentrated in the Atacama salt flat in the Antofagasta region, which has positioned Chile as a major player in the global lithium market. In 2023, the state copper company Codelco reported even higher lithium concentrations at the nearby Maricunga salt flat, where they averaged over 1,000 mg/l after drilling 10 holes.

La Isla: Part of the Altoandinos Lithium Project

La Isla is part of Enami’s broader Altoandinos lithium project, which also includes the Aguilar and Grande salt flats in the same region. Earlier exploration at Aguilar returned lower average lithium concentrations of 740 mg/l, with a maximum of 984 mg/l.

In an effort to enhance lithium extraction methods while minimizing environmental impact, Enami has partnered with eight international laboratories to test direct lithium extraction (DLE) technologies. Among the participating companies are France’s Adionics and Eramet, U.S.-based Lilac Solutions and SLB, China’s CADL-Lanshen, Australia’s Rio Tinto, Canada’s Nanotech, and the UK’s WaterCycle Technologies.

Additionally, Enami is negotiating with six companies to select a partner for the operation and financing of the Altoandinos project, with a decision expected by March 2025. Chile, currently the world’s second-largest lithium producer, continues to rely on output from the Atacama salt flat, and the development of La Isla will further solidify its position as a key global supplier of this essential metal.

Chile Rio Tinto Lithium Deposit Partnership Secures Largest Undeveloped Resource

Chile Rio Tinto

Chile Rio Tinto lithium deposit partnership emerged as Chile's national mining company Enami selected the Anglo-Australian miner to explore and develop the Altoandinos project, the country's largest undeveloped lithium deposit. The Chile Rio Tinto lithium deposit agreement establishes a public-private concession with Rio Tinto holding 51% ownership while Enami retains 49%, representing a combined $3 billion investment where Rio Tinto contributes $425 million for access to over 15 million tonnes of lithium carbonate equivalent resources.

Competitive Selection Process Validates Rio Tinto's Technology Leadership

Chile Rio Tinto lithium deposit selection followed Enami's unanimous board decision choosing Rio Tinto from a competitive pool including China's BYD, France's Eramet, and South Korea's Posco. Rio Tinto's proprietary direct lithium extraction (DLE) technology provided the decisive advantage, offering faster and more environmentally friendly operations compared to traditional evaporation methods. The DLE approach eliminates brine evaporation requirements while accelerating production timelines and reducing environmental impact.

Meanwhile, Rio Tinto's Rincon plant in Argentina serves as a demonstration and pilot facility for Chilean operations since both brine deposits share similar chemical compositions. This existing operational experience provides technical validation and reduces development risks for the Altoandinos project. Rio Tinto will assume complete operational responsibility while financing the project through financial operation and contributing to pre-feasibility study expenses.

Massive Resource Scale Supports 75,000 Tonne Annual Production

However, the Altoandinos salt flat contains substantial lithium resources exceeding 15 million tonnes of lithium carbonate equivalent with production capacity reaching 75,000 tonnes annually according to Enami projections. This production scale positions the project among global lithium industry leaders while supporting Chile's strategic objectives for lithium sector development. The resource magnitude justifies the $3 billion investment commitment from both partnership participants.

Therefore, the project timeline remains under development with no specific operational start date announced pending pre-feasibility study completion and regulatory approvals. The comprehensive development approach ensures technical optimization while addressing environmental and social considerations essential for sustainable lithium extraction. Rio Tinto's operational expertise combined with Enami's local knowledge creates optimal conditions for successful project implementation.

Strategic Expansion Reinforces Chile Lithium Market Leadership

Furthermore, the Altoandinos partnership follows Rio Tinto's recent selection by Chilean copper giant Codelco for the Maricunga salt flat exploration, representing Chile's second-largest undeveloped lithium deposit. This dual partnership positioning demonstrates Rio Tinto's strategic commitment to Chilean lithium development while reinforcing Chile's global lithium market leadership. The concurrent projects create synergies for technology deployment and operational efficiency.

As a result, Chile strengthens its position as the world's premier lithium jurisdiction through strategic partnerships with established international miners possessing advanced extraction technologies. The public-private partnership model enables state participation in resource development while leveraging private sector expertise and capital. This approach maximizes economic benefits while maintaining national control over strategic mineral resources essential for global energy transition.

The Metalnomist Commentary

Chile's selection of Rio Tinto for both the Altoandinos and Maricunga lithium projects demonstrates sophisticated resource development strategy that prioritizes advanced extraction technology and environmental sustainability over purely financial considerations. The emphasis on direct lithium extraction capabilities reflects Chile's commitment to maintaining global lithium leadership through technological innovation, particularly important as competition intensifies from emerging producers in Argentina, Australia, and other jurisdictions seeking market share.

Chile copper smelter upgrade set to transform Paipote complex

Chile Copper Smelter

The Chile copper smelter upgrade at Enami’s Paipote complex is moving a step closer to reality as regulators signal support for the $1.7bn project. Chile’s environmental impact service SEA has recommended approval, with the Atacama region’s environmental commission scheduled to vote on 29 October. This Chile copper smelter upgrade would modernise a 1950s-era facility, strengthen support for small and mid-scale miners and align Chile’s copper refining base with stricter environmental standards.

The Paipote metallurgical complex currently processes regional ores for Chile’s numerous small and medium miners, but it has struggled with financial losses and environmental compliance. Enami temporarily closed the smelter in 2024 to address these issues. As a result, the Chile copper smelter upgrade proposal combines capacity growth with cleaner technology, positioning the Atacama facility as a more competitive and sustainable processing hub in the world’s largest copper-producing nation.

Chile copper smelter upgrade doubles capacity and adds refinery

Under the plan, the Chile copper smelter upgrade will more than double Paipote’s processing capacity to 850,000 t/yr of copper concentrates. The project will also add an electrolytic refinery capable of producing 240,000 t/yr of copper cathodes, allowing more value to be captured domestically instead of exporting concentrates. Beyond copper, the upgraded plant will process anode sludge to recover palladium, tellurium, selenium, platinum, silver and gold, deepening Chile’s exposure to high-value minor metals markets.

Enami has already received over 15 expressions of interest from banks, funds, miners and traders to finance the project through offtake-based structures. The Chile copper smelter upgrade therefore sits at the intersection of industrial policy and commercial appetite, using future production to unlock capital today. Technically, the project will install a new bottom-blowing reactor and continuous converting technology designed to lift captured emissions from around 95pc to 99pc, an important step in reducing the plant’s environmental footprint in the Atacama region.

The Metalnomist Commentary

If approved, Paipote’s modernisation would mark a significant reinforcement of Chile’s mid-tier copper processing base, particularly for smaller miners that rely on Enami’s infrastructure. The Chile copper smelter upgrade also illustrates how global copper leaders are using brownfield assets to deliver both higher ESG performance and more refined output. For traders and investors, the project underscores a broader trend: future copper supply security will increasingly depend on environmentally upgraded smelters, not just on new mines.

Chile Receives High Interest in Lithium Project

In a significant development for the global lithium market, Chile's national mining company, Enami, has garnered substantial investor interest in its Salares Altoandinos lithium project located in the northern Atacama region. The company reported receiving 12 expressions of interest from companies and consortia across eight different countries, eager to form a joint venture with Enami and finance the initiative.

The interested parties include Axionit from Russia; Besalco and Errazuriz Group – IBC from Chile; BTR Consortium, BYD, and CNRG from China; Eramet from France; LG Energy Solution and Posco from South Korea; Rio Tinto from Australia; Summit Nanotech – HATCH from Canada; and Tecpetrol from Argentina.

Enami will assess the proposals by August 19 to ensure they meet the request for information requirements, after which negotiations with selected companies will commence.

Enami, which supports small and medium-sized mining operations in Chile, is investing $10.5 million in exploring the Altoandinos region, with a focus on the Aguilar, La Isla, and Grande salt flats. The initial exploration results have been described as "promising," with further exploration set to resume in September to better define the project's resources and reserves.

This move to attract private investment in the Altoandinos project aligns with Chile's national lithium strategy, which aims to double the country’s lithium production over the next decade.

Chile Advances Direct Lithium Extraction Technology at Altoandinos

Enami

Breakthrough in Lithium Recovery and Sustainability

Chilean state-owned miner Enami has reported promising results from testing direct lithium extraction (DLE) technology at its Altoandinos project, the country’s largest undeveloped lithium deposit. Eight international laboratories participated in the tests, which demonstrated a dramatic reduction in water consumption to 36m³ per metric tonne of lithium carbonate equivalent (LCE) — 55 times less than conventional evaporation pond methods. Lithium recoveries also improved sharply, rising from 42% in traditional processes to an average of 92%.

The DLE method also reduces land use, with a proposed 75,000t per year plant requiring only 10 hectares compared with 1,020 hectares for evaporation ponds. This efficiency addresses one of the key environmental challenges facing Chile’s salt lake ecosystems, which have been under increasing scrutiny from environmental groups and regulators.

Strategic Project Development with Rio Tinto

Enami plans to invest around $3 billion to develop Altoandinos in northern Chile’s Atacama region in partnership with Anglo-Australian mining giant Rio Tinto. The deposit hosts an estimated 15 million tonnes of LCE resources across the Aguilar, La Isla, and Grande salt lakes. Agreements have been secured with six indigenous communities in the region, ensuring local stakeholder involvement in the project’s advancement.

This initiative aligns with Chile’s national lithium strategy, launched in April 2023, which targets increased lithium production while safeguarding fragile salt lake ecosystems. The strategy mandates a transition from evaporation-based extraction to DLE and sets a goal of protecting at least 30% of salt lake environments.

The Metalnomist Commentary

Chile’s successful DLE test results could significantly reshape the global lithium supply chain by lowering environmental impacts while boosting yields. If scaled effectively, Altoandinos could emerge as a model for sustainable lithium production, positioning Chile as a leader in both output and ecological stewardship. The real test will be maintaining these efficiencies at commercial scale while navigating regulatory and community engagement challenges.

Chile Shortlists Partners for Altoandinos Lithium Project

Chile's state-owned mining company Enami is set to negotiate with six shortlisted firms to form a public-private partnership for its Salares Altoandinos lithium project in the Atacama region. The selected companies include China's BYD and CNGR, South Korea's LG Energy Solution and Posco, France's Eramet, and Australia's Rio Tinto.

Public-Private Partnership and Project Goals

The six contenders were chosen from an initial pool of twelve interested parties. Enami plans to share results from its $10.5 million exploration program, which will resume in September, during negotiations. Discussions with local indigenous groups are also in progress. Enami aims to finalize partnerships by March 2025, aligning with Chile's national strategy to double lithium production over the next decade.

Rio Tinto Lithium Capacity Expansion Targets 200,000 t/yr by 2028

Rio Tinto, Lithium mining

Rio Tinto lithium capacity expansion is moving into a much larger phase. The miner expects lithium carbonate equivalent capacity to reach 200,000 t/yr by 2028. That would be more than triple the 57,000t produced in 2025. As a result, Rio Tinto lithium capacity expansion is becoming a major growth story in the global lithium market.

This matters because Rio Tinto now sounds more committed than before. The company had previously linked the target to market conditions and returns. It now says all in-house projects remain on track. Therefore, Rio Tinto lithium capacity expansion is shifting from conditional ambition to active execution.

The company also sees stronger demand support from battery storage. Management said battery energy storage systems are becoming a fast-growing demand pillar. That trend is now outpacing electric vehicle growth. Consequently, battery storage lithium demand is strengthening the case for faster capacity buildout.

Rio Tinto Lithium Projects in Argentina and Canada Drive the Growth Plan

Rio Tinto lithium projects in Argentina are central to the near-term ramp-up. A 10,000 t/yr expansion at Fenix and the new 15,000 t/yr Sal de Vida project should lift 2026 output to 61,000-64,000t LCE. Both projects are already mechanically complete and moving through commissioning. As a result, Rio Tinto lithium projects are starting to convert capital spending into real production growth.

Rincon is another major part of the plan. Its 3,000 t/yr starter plant is progressing well and should reach full capacity by year-end. Once fully developed, Rincon is designed for 60,000 t/yr. Therefore, Rio Tinto lithium capacity expansion has meaningful scale beyond the first Argentina assets.

Canada also matters more now. Rio Tinto increased its stake in Nemaska to 53.9pc and took direct management control. The company wants to build an integrated lithium chain in Quebec from mining to refining. Meanwhile, Nemaska’s mine is 60pc complete and still targets first production in 2028.

Battery Storage Lithium Demand and Chile Exposure Broaden the Strategy

Battery storage lithium demand gives Rio Tinto a broader demand base than EVs alone. That is important because it reduces reliance on one single end market. The company now sees storage as a consistent source of future lithium consumption. As a result, Rio Tinto lithium capacity expansion looks better aligned with changing battery market dynamics.

The strategy also reaches beyond Argentina and Canada. Rio Tinto expects its agreements with Codelco and Enami in Chile to close in the first half of 2026. Those deals would give the company access to two major untapped lithium resources. Therefore, Rio Tinto lithium projects are expanding across several of the world’s most important lithium regions.

Capital spending confirms the seriousness of the push. Rio Tinto spent more than $1bn on lithium expansion projects in 2025. That level of investment shows lithium is becoming a more meaningful business line inside the group. Consequently, lithium carbonate equivalent capacity is no longer a side opportunity for Rio Tinto.

The Metalnomist Commentary

Rio Tinto is no longer testing lithium. It is building a serious multi-region platform around it. The most important signal is not only the 200,000 t/yr target. It is that battery storage demand now gives the company a stronger reason to keep scaling aggressively.