“Lithium companies right now are very expensive. We can believe we can find much cheaper ways to get it done,
Rio Tinto Group wants to be a “meaningful” lithium producer, but is more focused on finding and building its own mines than joining the wave of dealmaking engulfing the industry, said chief executive officer Jakob Stausholm.
“We would rather use our competencies to develop the projects ourselves,” Stausholm in an interview with. “Lithium companies right now are very expensive. We can believe we can find much cheaper ways to get it done.”The world’s second-largest mining company is actively looking to grow in lithium, a key ingredient to make batteries for electric vehicles, a strategy that sets it apart from rivals like BHP Group that have so far steered clear of the tiny but fast-growing market.
in Serbia were dashed last year when the government blocked the development after thousands of protesters took to the streets to oppose it. Stausholm also confirmed that the company has secured exploration land to look for lithium in Western Australia — where its giant iron ore mines that drive its profit are based. The region has been at the center of major dealmaking in the industry.
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.
Andrada confirmed lithium intersected pegmatites from Lithium Ridge drillingNamibian metals mining company Andrada Mining on September 18 confirmed that all drill holes – from assay results for the remaining reverse circulation (RC) exploration drilling results of an initial scouting programme undertaken with the ML133 mining licence area (Lithium Ridge) – intersected mineralised pegmatites, with spodumene and petalite identified as the primary lithium minerals. Building on the channel sampling programme, whose results highlighted the potential of the mineralised pegmatites, an exploration drilling programme was implemented to investigate the continuation of selected lithium-enriched pegmatites at depth.
Read more »
Rio Tinto shoulders Simandou iron-ore bill as Chinese funds delayed – sourcesRio Tinto has been solely funding preparatory work at the blocks it holds at Simandou, one of the world's largest untapped iron-ore deposits, as its Chinese partners are yet to make their funds available, two sources close to the matter said. The Anglo-Australian miner owns two of four Simandou mining blocks as part of its Simfer joint venture with China's Chalco iron-ore Holdings (CIOH) and the government of Guinea, where the mine is located.
Read more »
Rio Tinto shoulders Simandou iron ore bill as Chinese funds delayedThe company has so far spent more than $500 million on developing the project.
Read more »
10 Best 'Money Heist' Characters, Ranked by LikabilityFrom Rio to The Professor, these are the best characters in Money Heist, Ranked.
Read more »
IRA, EGD and now the EU move on China EVs – governments are showering miners with workWhen the EU closes its EV market to China, it will open up a direct route and likely premium pricing for lithium, nickel, cobalt miners now supplying China.
Read more »