Green Lithium and Rio Tinto take
initial step to develop lithium supply chain commercial
partnership
Tuesday, 1 October 2024
London, United Kingdom:
Green Lithium, the UK-based, low-carbon lithium
refinery developer, has today announced the signing of a memorandum
of understanding to develop a lithium supply chain commercial
partnership with Rio Tinto, the global metals processing and mining
company.
This agreement marks another step
for both parties as they look to play a crucial role across the
fast-evolving European battery metals value chain. Ultimately, the
parties share the vision of building an end-to-end value chain that
provides security of supply to safeguard the UK's and EU's
automotive and battery manufacturing industries.
Sean Sargent, Chief Executive
Officer of Green Lithium, said:
"The EV and battery revolutions are
fundamental to reducing the carbon emissions that contribute to
global climate change. By building our refineries, we will
accelerate the adoption of EVs and sustainable energy storage
through the increased supply of low-carbon, battery-grade lithium
chemicals. Fulfilling this vision requires the right partners, and
in Rio Tinto we have found an exceptional potential commercial
partner."
Philippe Bourdages, Vice President
in Minerals Sales at Rio Tinto, said:
"Rio Tinto and Green Lithium share
ambitions related to decarbonisation and today's announcement is an
important step forward in our journey towards unlocking the
end-to-end battery metals supply chain in Europe. Alongside Green
Lithium, we are looking to supply the global rollout of green
battery technology to feed the significant European market
demand."
Sarah Jones MP, UK Government
Minister for Industry and Decarbonisation, said:
"This is great news for Green
Lithium and Rio Tinto and will not only support high-skilled jobs
in the North East but boost our critical minerals supply chains as
we continue to build a cleaner, greener future for our automotive
industry and drive forward our mission to net zero."
Fundraising
contacts
Green Lithium is raising capital from corporate/institutional
investors. To register interest, please contact a member of the
deal team at its lead adviser Stifel Nicolaus
Europe.
· Varun Talwar, European Head
of Metals & Mining:
varun.talwar@stifel.com
· Alex Boyce, Head of Capital
Solutions: alex.boyce@stifel.com
· George Moore-Gwyn, Director
in Capital Solutions:
george.moore-gwyn@stifel.com
ENDS
About Rio
Tinto
Rio Tinto is one of the world's
leading metals and mining companies with a global workforce of over
49,000 and an extensive portfolio of operating assets spanning
across Australia, Asia, North and South America, Europe and Africa.
Rio Tinto's minerals product group provides materials essential to
a wide variety of industries, ranging from agriculture to renewable
energy and electric vehicles. The company produces high-grade,
low-impurity iron ore pellets and concentrate, titanium dioxide and
borates from operations in Africa, Canada and the US, and has a
growing presence in other battery metals, including
lithium.
For more information, please
contact: media.enquiries@riotinto.com
riotinto.com
About Green
Lithium
Green Lithium Refining Limited
(Green Lithium) is an
innovative mineral processing company with plans to build and
operate a large-scale lithium refinery in the Teesside, United
Kingdom, and provide high-purity lithium chemicals to the UK and EU
markets. The company will harness industry-leading process
technology enabling clean, low-carbon processing of high volumes of
hard-rock, unrefined lithium mineral spodumene concentrate. At
present, the battery-metal supply chain is dominated by East Asia.
There is no refining capability in Europe despite a significant
market opportunity. Working with key strategic partners to address
the need to improve the European battery-metal supply chain, Green
Lithium will support the low-carbon ambitions of society to
transition to the future green economy.
For more information, please
contact: communications@greenlithium.co.uk
greenlithium.co.uk