Rio Tinto Sells 93,000-Hectare Brazil Lithium Project for US$500,000
Rio Tinto has divested its 100% interest in a 93,000-hectare Araçuaí–Salinas lithium project in Brazil to Solis Minerals for US$500,000, retaining a 1.75% net smelter royalty. The transaction underscores a shift from early-stage lithium exploration toward Rio Tinto’s core commodities focus.
1. Divestment Details
Rio Tinto completed the sale of its 100% interest in the 93,000-hectare Araçuaí–Salinas lithium exploration project in Brazil to Solis Minerals for US$500,000, while securing a 1.75% net smelter royalty on future production.
2. Strategic Focus Shift
The divestment reflects a strategic pivot away from early-stage lithium exploration, enabling the company to focus capital on core commodities and higher-return assets within its global portfolio.
3. NSR Upside
The retained 1.75% NSR provides Rio Tinto with potential upside from future lithium production without additional capital investment, leveraging Solis Minerals’ planned drilling campaigns to drive royalty revenues.