Rio Tinto to invest $300 million in Nemaska lithium operation in Quebec, increasing ownership to 53.9%

Rio Tinto's $300 million investment, announced on March 13, 2026, in the Nemaska lithium operation in Quebec, elevates its ownership stake to 53.9%. This move allows the global mining group to expand its battery materials business by securing a controlling interest in a fully integrated spodumene-to-lithium project. The commercial logic for Rio Tinto involves gaining direct access to a critical mineral supply chain, from the Whabouchi deposit to the proposed 32,000 tonnes annual capacity lithium hydroxide conversion plant in Bécancour. With the Bécancour plant already 70% complete, this capital injection accelerates the project's path to production, ensuring a future supply of high-purity lithium hydroxide. This deal structure provides Nemaska with crucial funding to complete its Quebec-based operations, while Rio Tinto gains a dominant position in a key future-facing commodity. The Quebec government's concurrent pledge of $200 million demonstrates its commitment as a primary owner, funder, and developer of public infrastructure within the province, aligning this investment with its multi-billion dollar infrastructure plan. For Rio Tinto, a leading global mining group, this investment in Nemaska extends its operations beyond traditional mining, directly into the processing of battery materials. Nemaska Lithium, a Canadian lithium producer focused on the Whabouchi hard rock lithium mine, gains critical capital to advance its fully integrated spodumene-to-lithium project, including the 70% complete Bécancour plant. This collaboration with Rio Tinto and the Quebec government provides Nemaska with the necessary resources to complete its operations, aiming to supply high-purity lithium hydroxide for the elect market. The Quebec government's financial commitment further supports the development of a domestic supply chain for critical minerals within the province of Quebec.