Rio Tinto's Lithium Project Review Postponed in China

China's antitrust regulator has postponed its review of a joint lithium project between Chile's state-owned company ENAMI and Rio Tinto by several months.

According to ENAMI's executive vice president, Juan Carlos Saez, the companies will begin implementing the Salares Altoandinos project after obtaining approval from China's regulator.

The project is valued at over $3 billion. According to the plan, lithium production will begin in 2032 and will reach 35,000 tons annually in the initial phase. Over the following three years, production is planned to increase to 75,000 tons.

Salares Altoandinos is one of the most important lithium projects for Chile. The timing of its launch now depends on the decision of China's regulator.

Source: Investing.com