With two new projects, Rio Tinto is increasing its presence in Chilean lithium production. In the Salar de Maricunga, Rio Tinto will develop a lithium project with state-owned mining company Codelco. At the same time, Rio Tinto has established itself as the preferred partner for the Salares Andinos project, to be implemented with another state-owned mining company, ENAMI.
Maricunga: First production by end of 2030
As part of the Maricunga project, Rio Tinto will acquire a 49.99-percdent stake in the operating company. Initially, the company will provide 350 million US dollars for studies and project development. A further investment of 500 million dollars for construction will follow after a positive decision is made. According to the company, the first lithium production is expected by the end of 2030. The project area contains lithium brines with above-average lithium content. Rio Tinto is currently testing Direct Lithium Extraction (DLE) technology in neighboring Argentina and plans to use it for extraction in Chile.
Andinos: 75,000 tons of lithium per year
The same technology will also be used in the Andinos project, which includes the Aguilar, La Isla, and Grande salt flats. In this project, Rio Tinto will acquire a 51-percent stake and plans to invest 425 million US dollars in initial feasibility studies. ENAMI estimates the total investment up to the start of production, which is scheduled for 2032, to be around three billion dollars. After commissioning, capacity is expected to gradually increase to 75,000 tons of lithium per year.
Supply deficit at the end of the decade?
These projects are part of a strategic plan to strengthen Rio Tintoʼs position in the South American lithium triangle and in the global battery metals market. The company expects demand to grow and anticipates a supply deficit by the end of the decade.
Sources:
https://www.businesswire.com/news/home/20250519720418/en/Rio-Tinto-partners-with-Codelco-to-develop-lithium-project-in-Chiles-Salar-de-Maricunga
https://www.businesswire.com/news/home/20250522021914/en/Rio-Tinto-confirmed-as-preferred-partner-on-world-class-Salares-Altoandinos-lithium-project
