Rio Tinto talks with Congo over growing prize lithium deposit

Rio Tinto Group has held talks with the Democratic Republic of Congo about growing one of many world’s greatest laborious rock lithium deposits, within the newest signal of the miner’s enthusiasm for the battery steel.

The conversations in latest weeks with Congolese authorities targeted on Rio getting concerned in remodeling the Roche Dure useful resource right into a lithium mine, in keeping with individuals conversant in the matter. The discussions are at a preliminary stage and may not lead to any settlement, the individuals mentioned.

Securing funding from a western agency of Rio’s measurement could be a major increase for the central African nation’s leaders as they attempt to curb the dominance of Chinese language firms within the nation’s key mining sector. Congo is in early-stage discussions with President Donald Trump’s administration a few doable minerals-for-security cope with the US to help the struggle in opposition to a Rwanda-backed insurrection in its jap provinces.

Ought to Rio safe a deal, it could sign an escalation within the miner’s urge for food to function in a few of the world’s most difficult jurisdictions. Whereas the corporate has already proven it’s extra prepared to function in tough locations — it has main tasks in Guinea and Mongolia — a Congo operation would additional differentiate it from its principal rival BHP Group, which has lengthy most well-liked extra steady areas.

Rio just isn’t the one miner eyeing the Roche Dure lithium deposit, which was first outlined by Australia’s AVZ Minerals Ltd. Bloomberg Information reported final week that KoBold Metals – a California-based exploration agency backed by billionaires together with Invoice Gates and Jeff Bezos – advised Congo’s authorities in January that it’s eager to develop the mission as soon as disputes over the mining rights are settled.

One choice into consideration is KoBold and Rio teaming as much as construct and run the mine collectively, a few of the individuals mentioned, asking to not be recognized discussing personal data. Nevertheless, each firms have an interest within the mission individually and there’s no assure they’d select to forge a partnership, in keeping with the individuals.

The sought-after license close to Manono in southeastern Congo is claimed by AVZ, which has initiated arbitration proceedings to get well the asset. AVZ mentioned in 2020 it was planning to construct a facility able to producing 700 000 of lithium focus a yr for 20 years. That might be the most important mine of its type exterior Australia.

Perth-based AVZ carried out exploration works and was near breaking floor on building when the federal government canceled its rights in 2023. Congo cut up the allow and handed the northern half to China’s Zijin Mining Group. Roche Dure is positioned within the southern part.

In contrast to BHP and Glencore Plc, which have principally shunned lithium, Rio is pushing to turn out to be a serious participant within the provide chain of the steel utilized in electric-vehicle batteries. Profiting from a crash in costs pushed by oversupply, the corporate is aggressively increasing its enterprise, focusing on giant tasks it believes will likely be among the many lowest value within the business.

Rio – one of many world’s greatest exporters of iron ore and suppliers of aluminum, in addition to a rising copper producer – agreed final yr to purchase Arcadium Lithium Plc for $6.7 billion.

That provides to belongings it’s growing in Serbia and Argentina, the place the Rincon mission is already producing. Rio plans to ramp up lithium output because the market tightens towards the tip of the last decade.

Spokespeople for Rio, KoBold and AVZ declined to remark. Spokespeople for Congo’s presidency and mines ministry didn’t reply to requests for remark.

Michael Bloomberg, the bulk proprietor of Bloomberg Information’s father or mother Bloomberg LP, is an investor in Gates’ Breakthrough Power, which holds a stake in KoBold, in keeping with the corporate’s web site.

© 2025 Bloomberg

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Rio Tinto Group has held talks with the Democratic Republic of Congo about growing one of many world’s greatest laborious rock lithium deposits, within the newest signal of the miner’s enthusiasm for the battery steel.

The conversations in latest weeks with Congolese authorities targeted on Rio getting concerned in remodeling the Roche Dure useful resource right into a lithium mine, in keeping with individuals conversant in the matter. The discussions are at a preliminary stage and may not lead to any settlement, the individuals mentioned.

Securing funding from a western agency of Rio’s measurement could be a major increase for the central African nation’s leaders as they attempt to curb the dominance of Chinese language firms within the nation’s key mining sector. Congo is in early-stage discussions with President Donald Trump’s administration a few doable minerals-for-security cope with the US to help the struggle in opposition to a Rwanda-backed insurrection in its jap provinces.

Ought to Rio safe a deal, it could sign an escalation within the miner’s urge for food to function in a few of the world’s most difficult jurisdictions. Whereas the corporate has already proven it’s extra prepared to function in tough locations — it has main tasks in Guinea and Mongolia — a Congo operation would additional differentiate it from its principal rival BHP Group, which has lengthy most well-liked extra steady areas.

Rio just isn’t the one miner eyeing the Roche Dure lithium deposit, which was first outlined by Australia’s AVZ Minerals Ltd. Bloomberg Information reported final week that KoBold Metals – a California-based exploration agency backed by billionaires together with Invoice Gates and Jeff Bezos – advised Congo’s authorities in January that it’s eager to develop the mission as soon as disputes over the mining rights are settled.

One choice into consideration is KoBold and Rio teaming as much as construct and run the mine collectively, a few of the individuals mentioned, asking to not be recognized discussing personal data. Nevertheless, each firms have an interest within the mission individually and there’s no assure they’d select to forge a partnership, in keeping with the individuals.

The sought-after license close to Manono in southeastern Congo is claimed by AVZ, which has initiated arbitration proceedings to get well the asset. AVZ mentioned in 2020 it was planning to construct a facility able to producing 700 000 of lithium focus a yr for 20 years. That might be the most important mine of its type exterior Australia.

Perth-based AVZ carried out exploration works and was near breaking floor on building when the federal government canceled its rights in 2023. Congo cut up the allow and handed the northern half to China’s Zijin Mining Group. Roche Dure is positioned within the southern part.

In contrast to BHP and Glencore Plc, which have principally shunned lithium, Rio is pushing to turn out to be a serious participant within the provide chain of the steel utilized in electric-vehicle batteries. Profiting from a crash in costs pushed by oversupply, the corporate is aggressively increasing its enterprise, focusing on giant tasks it believes will likely be among the many lowest value within the business.

Rio – one of many world’s greatest exporters of iron ore and suppliers of aluminum, in addition to a rising copper producer – agreed final yr to purchase Arcadium Lithium Plc for $6.7 billion.

That provides to belongings it’s growing in Serbia and Argentina, the place the Rincon mission is already producing. Rio plans to ramp up lithium output because the market tightens towards the tip of the last decade.

Spokespeople for Rio, KoBold and AVZ declined to remark. Spokespeople for Congo’s presidency and mines ministry didn’t reply to requests for remark.

Michael Bloomberg, the bulk proprietor of Bloomberg Information’s father or mother Bloomberg LP, is an investor in Gates’ Breakthrough Power, which holds a stake in KoBold, in keeping with the corporate’s web site.

© 2025 Bloomberg

Comply with Moneyweb’s in-depth finance and enterprise information on WhatsApp right here.