Reports related to this article:
Project(s): View 2 related projects in PECWeb
Plant(s): View 2 related plants in PECWeb
Released May 21, 2025 | SUGAR LAND
en
Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Chilean state miner Codelco (Santiago, Chile) and Rio Tinto (London, England) have announced plans to jointly develop the Maricunga salt flat in Chile for lithium production. The agreement includes potential investments of US$900 million from Rio Tinto in different phases.
First, Rio Tinto would invest US$350 million for additional studies and resources analysis. Another US$500 would be spent on the development of the project once an investment decision has been made, which is expected to take place before the end of the decade.
Finally, Rio Tinto would commit another US$50 million for the joint venture if the Maricunga project delivers its first lithium before the end of 2030.
Rio Tinto would own 49.9% of the stakes of the Salar de Maricunga company, a joint venture controlled by Codelco. The agreement is expected to be closed by the beginning of next year, pending on regulatory approvals. Codelco would contribute at least US$100 million to the project, according to Industrial Info's project database. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for a related project report and click here for the plant profile.
"This project continues our lithium diversification strategy, which is essential for the energy transition, with a world-class partner in Rio Tinto that represents the most attractive option for Codelco and the country. We are happy and proud to strengthen our partnership with a company of Rio Tinto's prestige, and we warmly welcome it as a partner in this important project for Chile," said Máximo Pacheco, Codelco's chairman.
The Maricunga salt flat has the second-highest concentration of lithium worldwide, only behind the Atacama salt flat, also in Chile.
In 2023, Chile's announced the Lithium National Strategy seeking to develop the industry, boost state mining companies, and attract investments. As part of the plan, the state would maintain control, through state mining companies, of the Atacama and Maricunga salt flats, while another set of salt flats would be open for private investments.
So far, dozens of companies have shown interest in developing the lithium areas that have been opened for private development. Meanwhile, the agreement between Rio Tinto and Codelco shows that state companies are seeking to jointly develop the state-controlled salt flats as a way to spur the industry.
Rio Tinto has expressed its intention to become a leading lithium miner, especially after acquiring Arcadium Lithium earlier this year. The acquisition has provided Rio Tinto access to prime lithium mining operations and projects in Argentina, making it one of the world's largest lithium producers. Before this, Rio Tinto was already progressing with the development of the Rincon lithium project in Argentina. Subscribers can click here for the project report and click here for the plant profile.
Subscribers can click here for all project reports mentioned in this article and click here for the plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
First, Rio Tinto would invest US$350 million for additional studies and resources analysis. Another US$500 would be spent on the development of the project once an investment decision has been made, which is expected to take place before the end of the decade.
Finally, Rio Tinto would commit another US$50 million for the joint venture if the Maricunga project delivers its first lithium before the end of 2030.
Rio Tinto would own 49.9% of the stakes of the Salar de Maricunga company, a joint venture controlled by Codelco. The agreement is expected to be closed by the beginning of next year, pending on regulatory approvals. Codelco would contribute at least US$100 million to the project, according to Industrial Info's project database. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for a related project report and click here for the plant profile.
"This project continues our lithium diversification strategy, which is essential for the energy transition, with a world-class partner in Rio Tinto that represents the most attractive option for Codelco and the country. We are happy and proud to strengthen our partnership with a company of Rio Tinto's prestige, and we warmly welcome it as a partner in this important project for Chile," said Máximo Pacheco, Codelco's chairman.
The Maricunga salt flat has the second-highest concentration of lithium worldwide, only behind the Atacama salt flat, also in Chile.
In 2023, Chile's announced the Lithium National Strategy seeking to develop the industry, boost state mining companies, and attract investments. As part of the plan, the state would maintain control, through state mining companies, of the Atacama and Maricunga salt flats, while another set of salt flats would be open for private investments.
So far, dozens of companies have shown interest in developing the lithium areas that have been opened for private development. Meanwhile, the agreement between Rio Tinto and Codelco shows that state companies are seeking to jointly develop the state-controlled salt flats as a way to spur the industry.
Rio Tinto has expressed its intention to become a leading lithium miner, especially after acquiring Arcadium Lithium earlier this year. The acquisition has provided Rio Tinto access to prime lithium mining operations and projects in Argentina, making it one of the world's largest lithium producers. Before this, Rio Tinto was already progressing with the development of the Rincon lithium project in Argentina. Subscribers can click here for the project report and click here for the plant profile.
Subscribers can click here for all project reports mentioned in this article and click here for the plant profiles.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).
