Russia supplies about 10% of the world's nickel, 6% of its aluminum and around 3.5% of its copper. A ban on Russian metal could lead to shortages and further price surges at a time of rising inflation around the world.
The funds will be invested in a project at a salt flat called Salar de Hombre Muerto, located in the border between the northern Salta and Catamarca provinces.
Rio will evaluate the potential commercial deployment of its Nuton copper heap leaching technologies developed to deliver increased copper recovery from mined ore.
