Rio Tinto confirmed as preferred partner on Salares Altoandinos lithium project

Rio Tinto (RIO) announced it has been confirmed as the preferred partner for the Salares Altoandinos lithium project in the Atacama region of Chile by Empresa Nacional de Mineria, a state-owned Chilean mining company. Under the terms of the proposal, Rio Tinto would acquire an initial 51% stake in the project with ENAMI holding the remaining 49%. The transaction remains subject to the signature of binding agreements, receipt of all regulatory approvals and the satisfaction of other customary closing conditions. Rio Tinto Chief Executive Jakob Stausholm said: “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, and to support Chile’s position as one of the world’s leading producers of minerals critical to the energy transition.”