Rio Tinto Secures 54% Stake in Nemaska with $300M Quebec Investment
Rio Tinto increased its stake in Quebec’s Nemaska Lithium to 54%, securing majority control of a project key to its battery metals strategy. The company plans to invest $300 million this year in Quebec operations and scale capacity to 200,000 metric tons of lithium carbonate equivalent annually by 2028.
1. Majority Stake Acquisition
Rio Tinto has boosted its ownership of Quebec-based Nemaska Lithium to 54%, moving from a minority position to full majority control. The increased stake secures Rio’s influence over the Becancour processing facility and the Galaxy open pit mine developments.
2. Investment Plan and Production Targets
The miner will allocate approximately $300 million this year toward Quebec lithium operations, aiming to convert spodumene ore into lithium hydroxide for EV batteries. With the Becancour plant slated to begin commercial output in 2028 at 32,000 metric tons per year, Rio aims to reach 200,000 metric tons of lithium carbonate equivalent by 2028 through projects in Canada and Argentina.
3. M&A Prospects After Glencore Talks Collapse
Following the collapse of merger talks with Glencore over valuation differences, Rio remains positioned for future consolidation opportunities. The breakdown activates a six-month cooling-off period while leaving the door open for potential transformative combinations.