Overview

• Rio Tinto has committed $900 million to acquire a 49.99% stake in the Salar Maricunga SpA joint venture, with Codelco retaining a 50.01% controlling interest.
• The Maricunga salt flat, located in northern Chile, holds the world’s second-largest lithium deposits, critical for electric vehicle and electronics batteries.
• This partnership represents the largest foreign investment in Chile’s mining sector since the 2023 semi-nationalization of strategic lithium projects.
• The joint venture is expected to be finalized by March 2026, aligning with long-term projections of robust lithium demand despite recent price declines.
• The project reflects Chile’s new model of resource governance, balancing state-majority ownership with private expertise in the global race for critical minerals.