Rio Tinto, ENAMI form JV for Salares Altoandinos lithium

Rio Tinto and Empresa Nacional de Minería (ENAMI) signed a binding agreement to form a joint venture to develop the Salares Altoandinos lithium project in Chile’s Atacama region.

• Main agreement: Rio Tinto will acquire a controlling 51% interest in the Salares Altoandinos project and has agreed to provide up to $425 million in cash and non-cash contributions (including its Direct Lithium Extraction (DLE) Technology). Cash contributions include staged spending to sole-fund the pre-feasibility study and further studies; the transaction is expected to close in H1 2026, subject to regulatory approvals and customary closing conditions.
• Background and details: The signing follows Rio Tinto’s nomination as preferred partner on 23 May 2025. Rio Tinto Minerals CEO Sinead Kaufmann emphasized the company’s strategy to build a lithium portfolio and committed to high environmental standards and ongoing engagement with local communities in the Atacama region.