Deals
Rio Tinto Buys $825 Million Lithium Project in Battery Push
- Rio to buy Argentina Rincon project from private equity owners
- Biggest miners are looking to mine more battery materials
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Rio Tinto Group agreed to buy a lithium mine in Argentina for $825 million as the world’s second-biggest miner accelerates its push into battery materials.
The top mining companies are increasingly looking to expand into so-called future facing commodities, such as lithium, copper and even fertilizers, as investors and governments increase pressure on more polluting materials that have long been the most profitable.