Canada's critical mineral deposits at current prices are valued at approximately C$340 billion, a senior official said.

Chief Executive Jakob Stausholm said the company had committed to increasing research spending to develop technologies enabling its customers to decarbonize.

The decision comes a month after a similar industry group, the London Bullion Market Association, suspended the accreditation of Russian refiners.

Rio's move effectively cuts Rusal's access to production and management at the refiner under an Australian ban against exporting alumina and aluminum ores.

Getting Simandou under development would be a second major win for Chief Executive Officer Jakob Stausholm.

Nuclear fuel differs from commodities like gas or coal because it requires precision-engineered assemblies that conform to licensing requirements set by safety regulators.

DLE technologies would challenge traditional miners such as Albemarle and prospective miners like Lithium Americas.