Rio bets on direct lithium extraction in $825 million Argentina deal

Rio Tinto has agreed to buy a lithium brine project in Argentina for $825 million, in a deal that expands its presence in the battery supply chain just as mass protests have cast uncertainty over its planned lithium mine in Serbia.

The Anglo Australian iron ore miner said the purchase of the Salar del Rincón project in Salta province from the private equity group Sentient Equity Partners showed its “commitment to build its battery materials business.”

It comes as Rio . . .

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