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Mining giant Rio Tinto (ASX, LON, NYSE: RIO) and UK refinery developer Green Lithium are partnering to establish an end-to-end lithium supply chain aimed at supporting the UK and EU’s automotive and manufacturing industries.
“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,” Sean Sargent, chief executive of Green Lithium, said on Tuesday.
The partnership positions both Rio Tinto and Green Lithium to benefit from the growing demand for electric vehicle (EV) metals. It also aligns with their mutual goal of supporting decarbonization efforts and addressing the increasing need for sources of sustainable battery materials.
Green Lithium’s ambitious plan to build and operate a large-scale lithium refinery in Teesside, England, is the backbone of the announced partnership.
Green Lithium’s ambitious plan to build and operate a large-scale lithium refinery in Teesside, England, is the backbone of the announced partnership. The facility will produce high-purity lithium chemicals for both the UK and EU markets, utilizing advanced technology designed for low-carbon, environmentally friendly processing of spodumene concentrate.
Europe’s soaring demand for battery metals contrasts with the lack of domestic lithium refining capabilities. The supply chain is predominantly controlled by Chinese companies, highlighting the strategic importance of Green Lithium and Rio’s endeavour.
UK Industry and Decarbonization Minister Sarah Jones praised the partnership, emphasizing its potential to strengthen the local economy and the UK’s critical minerals supply chain. “It 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,” Jones said.
Rio Tinto has recently stepped up efforts to revive its Jadar lithium project in Serbia, after having its mining licence revoked in 2022. Locals staged massive, widespread protests that year against the proposed mine on environmental concerns.
The world’s second largest miner has been pushing since to resume work on the project, which is expected to be Europe’s biggest lithium mine. In July this year, Serbia reinstated Rio Tinto’s licence to develop it, but the company will have to secure approvals to move towards production at the site.
With projected production of 58,000 tonnes of refined battery-grade lithium carbonate per year, Jadar could supply enough lithium to power one million electric vehicles and meet 90% of Europe’s current lithium needs.
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