Rio tinto signed an option agreement with Quebec\u0027s Azimut Exploration Inc. to own most of two lithium properties in Quebec
Play Video
The deal allows the mining giant, which earned US$16.1 billion from its operations last year, to spend a few million dollars to dip its toes into lithium projects owned by Azimut and assess the financial viability of building mines at the locations in the future.Article content Both deals come after Rio inked a memorandum of understanding with the federal government last month to look for ways in which the miner can contribute to Canada’s low-carbon battery industry in the next decade. Lithium is a key component in electric vehicle batteries., who has been wooing auto and battery makers to Canada over the last two years, told the Financial Post in June he wants Rio to invest more in the country’s battery supply chain.
Aside from the projects in Canada, Rio has three other lithium projects in Argentina, Serbia and the United States it is actively trying to develop.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mining giant Rio Tinto dips toes in Canadian lithium projects in rare pursuit of EV metalRio tinto signed an option agreement with Quebec\u0027s Azimut Exploration Inc. to own most of two lithium properties in Quebec
Read more »
Nine Canadian stocks among RBC’s top picks in global miningDaily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow
Read more »
WonderFi, Coinsquare and CoinSmart join forces to create Canadian crypto giantWonderFi to combine retail trading platforms Bitbuy and Coinsquare and invest in SmartPay, a digital currency payment platform. Read on
Read more »
WonderFi, Coinsquare and CoinSmart join forces to create Canadian crypto giantWonderFi to combine retail trading platforms Bitbuy and Coinsquare and invest in SmartPay, a digital currency payment platform. Read on
Read more »
Giant Tiger founder Gordon Reid has died at 89Gordon Reid, a Canadian businessman and founder of the popular discount chain Giant Tiger, has died.
Read more »
Hecla completes ATAC acquisition, restarts Casa Berardi gold mine in QuebecA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »