LONDON (dpa-AFX) - Rio Tinto (RTPPF.PK, RIO.L, RIO, RTNTF.PK) announced that it has been confirmed as the preferred partner for the Salares Altoandinos lithium project in the Atacama region of Chile by Empresa Nacional de Minera (ENAMI), a state-owned Chilean mining company.
As per the terms of the proposal, Rio Tinto would acquire an initial 51% stake in the project with ENAMI holding the remaining 49%. The transaction remains subject to the signature of binding agreements, receipt of all regulatory approvals and the satisfaction of other customary closing conditions.
Rio Tinto said it looks forward to working with its partners in South America and will continue to evaluate Tier 1 opportunities globally as it gains momentum in building a world-class lithium business.
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