4800 pence FORT DAUPHIN, Madagascar, December 10, 2021--(BUSINESS WIRE) In accordance with the commitments made last July, Rio Tinto QIT Madagascar Minerals (QMM) and its partner Crossboundary Energy (CBE) today laid the foundation stone for the solar and wind power plant project that will supply the QMM ilmenite mine operations in Fort Dauphin, in southern Madagascar. The ceremony took place in the Ehoala Park area, in the presence of high dignitaries, including the Minister of Energy and Hydrocarbons, the Minister of Environment, the mayor of Fort-Dauphin and the Governor of the Anosy Region. The renewable energy project plays a key role in implementing QMM's 'sustainable mine' concept and enabling Rio Tinto operations in Madagascar to reach carbon neutrality by 2023. The renewable energy plant will be built and operated by CBE, a recognized independent power producer, with whom QMM has signed a 20-year power purchase agreement. The first unit, an 8 MW solar energy facility, will be operational in 2022. The 12 MW wind power facility will be completed in 2023. The project also includes an 8.25 MW lithium-ion battery energy storage system. Around 18,000 solar panels and four wind turbines will enable QMM to meet all of its electricity needs during peak periods and up to 60% of its annual electricity consumption, as well as to reduce its annual carbon dioxide emissions by about 26,000 tonnes. In addition, the renewable power supply will reduce QMM's heavy fuel oil purchases by up to 8,500 tonnes per year. With this plant, QMM will also replace the majority of the electricity it currently supplies to the town of Fort-Dauphin and its 80,000 community members with clean energy. https://finance.yahoo.com/news/rio-tinto-qmm-launches-construction-120000149.html
Rio Tinto Buys $825 Million Lithium Project in Battery Push Thomas Biesheuvel Tue, 21 December 2021, 6:38 pm (Bloomberg) -- Rio Tinto Group agreed to buy a lithium mine in Argentina for $825 million as the world’s second-biggest miner accelerates its push into battery materials. The top mining companies are increasingly looking to expand into so-called future facing commodities, such as lithium, copper and even fertilizers, as investors and governments increase pressure on more polluting materials that have long been the most profitable. Rio said Tuesday that it will buy the Rincon asset in Argentina from private equity buyers. The lithium brine project is in the so-called lithium triangle in South America, home to many of the best lithium projects. Major automakers from Tesla Inc. to Volkswagen AG need an ever-growing supply of battery materials to accelerate the roll out of electric vehicles. “This acquisition is strongly aligned with our strategy to prioritize growth capital in commodities that support decarbonization and to continue to deliver attractive returns to shareholders,” Rio Chief Executive Officer Jakob Stausholm said in a statement. The company said the undeveloped project has the potential to produce battery grade lithium carbonate. Rio is already looking to develop a $2.4 billion lithium mine in Serbia as it moves to diversify its business away from iron ore. Yet the company’s plans there have come under pressure from local activists who have filled streets in protest against the project. The World Wants More Lithium But Doesn’t Want More Mine Rio’s push into lithium comes as prices surge. The global transition toward electrified transport has fired up consumption and lithium prices have more than tripled this year to a record. Miners are scurrying to expand capacity, but they can’t keep up with demand and market tightness is likely to persist in the near term. Rio’s peers, which have so far shunned lithium, are also looking to diversify. Larger miner BHP Group is trying to buy a Canadian nickel project -- another vital component in the types of batteries that power electric cars or back up renewable energy. It’s also looking to build a giant fertilizer mine, as is Anglo American Plc. https://uk.finance.yahoo.com/news/rio-tinto-buys-825-million-173800011.html
Rio Tinto to pause lithium mine in Serbia after protests -report BELGRADE, Dec 23 (Reuters) - Rio Tinto plans to pause its lithium project in western Serbia after a municipality in the west of the country scrapped a plan to allocate land for the mine, the Beta news agency reported on Thursday, quoting the CEO of Rio's Serbian arm. The mining group wants to develop the mine near Loznica in the western Jadar river valley to extract lithium, a vital ingredient for batteries for electric vehicles, while another product, borates, are used in solar panels and wind turbines. But last week Loznica's municipal assembly scrapped a plan that would have allocated land for the project. Beta quoted Vesna Prodanovic as saying Rio plans a pause during which it will engage in a public dialogue about the project, which has stirred protests by environmental groups. "We want to call for a public dialogue, to acquaint residents with all aspects of our project," Beta quoted Prodanovic, who is CEO of Rio Sava Exploration, as saying. Prodanovic said Rio also plans to "reconsider and possibly improve" technical solutions it wants to use for the mine. Earlier this year, Rio said any development would meet all domestic and European Union environmental standards but activists say it would cause irreparable damage. Rio Tinto told Reuters in a statement that it will continue to consider all concerns from residents in western Serbia and is looking at improved solutions informed by its consultations with the community. "The Feasibility Study and Environmental Impact Assessment Studies are ongoing. They are crucial in assessing and reducing impacts that are causing concern," a company spokesperson said in the statement. The company's $2.4 billion project is part of Serbian government efforts to bring in more investment and boost economic growth. In recent weeks, green groups have staged protests and blocked roads across the country, demanding authorities end the project, causing a political headache for the ruling coalition loyal to President Aleksandar Vucic ahead of April elections. "It is extremely difficult in such an intense anti-mining and negative campaign to have a reasonable debate on any topic," the report quoted Prodanovic as saying. Vucic has repeatedly said that opening the mine would depend on the outcome of an environmental study and a referendum on it. (Reporting by Aleksandar Vasovic; Editing by Alexander Smith and William Mallard) https://finance.yahoo.com/news/1-rio-tinto-pause-lithium-053139799.html
