Rio Tinto sees lithium as fastest-growing division, executive says
2026-06-24 11:45:14 [Print]
Rio Tinto expects its lithium business to outpace its copper, iron ore, and other segments as the company works to triple production by 2028 to serve the electric vehicle and battery storage markets, an executive said on Tuesday.
The world's second-largest mining giant entered the lithium sector last year with its acquisition of U.S.-based Arcadium-a deal that gave it access to mines, processing facilities, and deposits across four continents, along with a customer roster that includes Tesla.
The company aims to produce at least 61,000 metric tons of lithium this year and has the capacity to reach 200,000 metric tons annually by 2028, should market conditions warrant it.
The world's second-largest mining giant entered the lithium sector last year with its acquisition of U.S.-based Arcadium-a deal that gave it access to mines, processing facilities, and deposits across four continents, along with a customer roster that includes Tesla.
The company aims to produce at least 61,000 metric tons of lithium this year and has the capacity to reach 200,000 metric tons annually by 2028, should market conditions warrant it.
Lithium Metal 99%min Delivered China
Unit:RMB/mt
China lithium cobaltate producers' operating rate statistics by province by month
Unit: %
