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Highlights:
- Rio Tinto and Green Lithium partner to develop a lithium supply chain for the UK and EU’s EV and energy storage sectors.
- Green Lithium plans to build a large-scale refinery on Teesside to supply battery-grade lithium chemicals.
- The collaboration aims to meet the increasing demand for sustainable lithium in the European market.
Rio Tinto Ltd (LSE:RIO) and UK-based refinery developer Green Lithium have announced a new partnership to develop a robust lithium supply chain to support the growing demand for electric vehicles (EVs) and sustainable energy storage across the UK and EU. The collaboration aims to meet the rising market need for battery-grade lithium chemicals, essential for EVs and green energy solutions.
The companies signed a memorandum of understanding (MoU) to work together on building a supply chain for low-carbon lithium chemicals. Green Lithium plans to construct and operate a large-scale lithium refinery on Teesside, which will process unrefined lithium spodumene concentrate, providing a vital resource for the UK's EV battery market and the wider European automotive sector.
Sean Sargent, CEO of Green Lithium, stated that the new refinery would "accelerate the adoption of EVs and sustainable energy storage" by increasing the supply of low-carbon lithium products. Philippe Bourdages, VP of Minerals Sales at Rio Tinto, emphasized that this collaboration represents a significant step in unlocking an end-to-end battery metals supply chain for Europe.
With the global shift towards green technology, Rio Tinto and Green Lithium aim to support the European market's demand for sustainable, battery-grade lithium, driving the future of green energy.
