Codelco and Rio Tinto Group are going ahead as planned with their joint lithium project in Chile, despite the London-based miner saying it was. Slow down their invasion of battery metal, said the Codelco president.
CEO of Rio Tinto, Simon Trottand head of lithium mining company, Jerome PécresseOn Wednesday, he met in London with Máximo Pacheco From Codelco L Marikunga lithium project processing, The company is in an initial phase, Pacheco said, in addition to a joint copper exploration initiative in Chile.
Both companies In line with the roadmap for those projects, Pacheco said by phone, adding that the roughly two-hour meeting included a discussion of the lithium extraction technology that would be used.
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Fewer worries
Comments Codelco President Can Allaying fears in Chile after Rio halts lithium project in Serbia Trott said at an event on Thursday that he would take a “gradual approach” to the metal, which has seen an oversupply weighing on prices. Trott was previously replaced Jacob Stasholm With the mandate to give more focus to mining operations and a more disciplined approach to spending.
Stosholm has been championing lithium, overseeing a major acquisition and signing Alliances with Codelco and another Chilean state mining company, Enami, To potentially develop new operations in Chile.
In May, Rio agreed to invest up to US$900 million in Maricunga, although this investment is subject to various approvals and a final investment decision.
Trott told investors in London on Thursday that lithium would become an important business for Rio, showing slides that mentioned Chilean projects as “options.”
Rio Tinto did not immediately comment on the meeting with Codelco.
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