Rio Tinto has secured a majority interest in Canada’s Nemaska Lithium following respective equity investments made by the company and the Government of Québec, through Investissement Québec, since March 2025.
The company now owns a 53.9% stake and the Government of Québec holds a 46.1% share in Nemaska Lithium.
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With its majority ownership, Rio Tinto will manage Nemaska Lithium, utilising its processes and standards to establish an integrated lithium business in the country.
Funding for the project will continue from both partners, focusing on the lithium hydroxide plant in Bécancour, Québec.
Construction at the site was 60% completed by the end of 2025, with engineering work currently finished.
The Government of Québec plans to contribute up to $200m (C$274.16m) through equity subscriptions, while Rio Tinto is set to invest more than $300m in 2026 to further develop its lithium operations in the region.
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By GlobalDataThe acquisition of Arcadium in March 2025 played a crucial role in this development, with Rio Tinto securing a 50% stake in Nemaska Lithium.
This includes the lithium hydroxide plant in Bécancour and the Whabouchi spodumene mine in the Eeyou Istchee James Bay area of Québec.
Commissioning activities at the Bécancour plant are scheduled to begin in 2026, with initial production anticipated in 2028.
An evaluation by Rio Tinto of the Whabouchi mine and its wholly owned Galaxy mine is ongoing to establish the best supply strategy for the Bécancour plant’s spodumene needs. This evaluation is projected to conclude in the first half of 2026.
Rio Tinto Aluminium & Lithium chief executive Jérôme Pécresse said: “Rio Tinto’s activities in Québec play an important role in our ambition to take our world-class lithium business to the next level of growth and performance, notably through Nemaska Lithium.
“This evolution will facilitate the achievement of this objective and enable us to better support the long-term development of Nemaska Lithium, which will expand our integrated lithium product offering.”
Last month, Rio Tinto and the Aluminum Corporation of China signed a definitive agreement to jointly acquire a controlling stake in Companhia Brasileira de Alumínio from Votorantim.
