Lithium plays an essential role in our daily lives, and is used in a variety of products, including:
- Batteries for electric vehicles (EV)
- Commercial and residential energy storage batteries
- Enamels and glazes for industrial use
Lithium is considered a critical mineral and an essential materials for a low-carbon future.
In early 2022, we completed the acquisition of our Rincon project—a large, undeveloped lithium-brine project located in the heart of the “lithium triangle” in Argentina. A long-life, scalable resource capable of producing battery-grade lithium carbonate from raw brine, the project will help us deliver this vital material to the global energy industry while meeting our commitment to decarbonize our operations by 2050.
We are also investing in a future source at our Jadar project in Serbia, subject to receiving all relevant approvals, permits, and licenses and ongoing engagement with local communities, the Government of Serbia, and civil society. The scale and high-grade nature of the Jadar deposit provides the potential for a mine to supply lithium products into the electric vehicle value chain for decades. Following ramp up to full production in 2029, the mine will produce ~58,000 tonnes1 of lithium carbonate, making us one of the top 10 lithium producers in the world.
1These production targets were previously reported in a release to the ASX dated 10 December 2020, “Rio Tinto declares maiden Ore Reserve at Jadar.” All material assumptions underpinning the production targets continue to apply and have not materially changed.