On Wednesday, Rio Tinto (NYSE:RIO) disclosed a significant development in its lithium strategy, as it now holds a 53.9% majority stake in Nemaska Lithium.

This shift in ownership follows equity investments by both Rio Tinto and the Government of Quebec, and positions Rio Tinto to take over direct management of the company, aiming to enhance its lithium operations in Quebec.

Rio Tinto’s Bold Lithium Strategy Unveiled

The company plans to leverage its expertise in development, operations, and sales to construct an integrated lithium business in the region.

The collaboration with the Government of Quebec will continue, with ongoing funding directed towards the lithium hydroxide plant in Bécancour, which has reached 60% completion.

The Government of Quebec is set to invest up to $200 million in Nemaska Lithium, while Rio Tinto will contribute over $300 ...