Drill and Deal

News / 2025

· Deals, Lithium

Rio Tinto agrees to invest up to $900m for half of Codelco’s Maricunga lithium project

Rio Tinto will take 49.99% of the company holding Codelco’s Salar de Maricunga licences in Chile. It will fund $350m of studies, $500m of construction costs after a go-ahead decision and a further $50m if first lithium arrives by the end of 2030.

The Salar de Maricunga in Chile’s Atacama region
Photo: Lucash, CC BY-SA 3.0

Why it matters. Earning into a project by funding its costs is a common way for a major to partner with a state-owned company.

Source
Rio Tinto
In the course
Module 7: Funding a project