Frontier Lithium feasibility study lifts PAK reserves by 37%
The study calculates a net present value of $932 million based on a discount rate of 8%.
The study calculates a net present value of $932 million based on a discount rate of 8%.
The miner warned of lower realized prices in the next quarter due to oversupply of the metal.
A $600 million lithium processing plant near the Kaduna-Niger border is slated for commissioning this quarter.
Rio Tinto will initially put forward $425 million to the project, which ENAMI said will require a total investment of $3 billion.
Maricunga marks a new pivot in Rio's lithium ambitions and a turning point for Chile.
Rio was also selected by Codelco for Chile's Maricunga lithium project.
Miners are asking for the 5% levy aimed at fostering a domestic refining industry to be delayed for two and a half years.
Rincon becomes the first mining project under Argentina's new investment incentive regime.
Rio Tinto will contribute up to $900 million to the Maricunga project in Chile, taking a 49.99% share.
The miner has received approval to commence Phase 1 production at its Prairie project.
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