Mining giant Rio Tinto has become the majority owner of Nemaska Lithium. Now the corporation’s share is 53.9%. The remaining 46.1% was retained by the Quebec government represented by Investissement Quebec. This ownership structure allows Rio Tinto to take operational management of the project and implement its standards at all stages – from development to sales.
This is an integrated lithium project that includes two key facilities. The first is a lithium hydroxide production plant in the Bécancourt Industrial Park. The second is the Wabushi mine in the Eyu Istchi region, where is spodumene ore mined?. By the end of last year, construction of the plant was 60% completed. The design work has already been fully completed. They plan to begin commissioning operations in 2026, and the first product is expected in 2028.
Funding for the project continues. Quebec authorities are ready to invest up to $200 million in Nemaska Lithium through a share buyback. Rio Tinto, in turn, will use more than $300 million in 2026 to develop lithium in the province.
The head of Rio Tinto’s aluminum and lithium division, Jerome Pecresse, emphasized that assets in Quebec play a key role in the company’s growth strategy. According to him, the integration of Nemaska Lithium will expand the product line and take the lithium business to a new level. He also noted the company’s commitment to development in Canada, which, according to management, is capable of becoming a leader in the industries of the future.
Let us recall that an increase in the stake in Nemaska Lithium became possible after Rio Tinto purchased Arcadium in March 2025. It was this deal that gave the corporation the initial 50% stake in the Quebec lithium project. Now that it has full control, Rio Tinto intends to accelerate the project and strengthen its position in the battery raw materials market.
For the global electric vehicle industry, this step means the emergence of another powerful player with a full production cycle. The Bécancourt plant will produce lithium hydroxide, a key component for high-performance battery cathodes. And our own mine guarantees a stable supply of raw materials.
Source: Mining Weekly
Image: Mining Weekly
