Rio Tinto has gained majority control of Canada’s Nemaska Lithium following equity investments, advancing its aim to build an integrated lithium business in Québec.
Rio Tinto now holds a 53.9 per cent stake in Nemaska Lithium and will assume direct management, while the government of Québec holds 46.1 per cent of the company.
The partners will continue to fund the project, including the lithium hydroxide plant in Bécancour, Québec, which is 60 per cent complete.
The Quebec government will invest up to US$200 million in Nemaska Lithium through equity subscriptions, with Rio Tinto investing more than US$300 million in 2026 to continue developing its lithium business in the region.
Rio Tinto Aluminium & Lithium CEO Jérôme Pécresse said: “Rio Tinto’s activities in Québec play an important role in our ambition to take our world-class lithium business to the next level of growth and performance, notably through Nemaska Lithium.
“This evolution will facilitate the achievement of this objective and enable us to better support the long-term development of Nemaska Lithium, which will expand our integrated lithium product offering.”
Rio Tinto acquired a 50 per cent stake in Nemaska Lithium in 2025 from Arcadium.
Commisioning activities at the Bécancour plant are planned to commence in 2026, with first production expected in 2028.
Rio Tinto is evaluating the Whabouchi mine, owned by Nemaska Lithium, and the Galaxy mine, wholly owned by Rio Tinto, to determine the optimal spodumene supply strategy for the Bécancour plant.
The evaluation is expected to be completed in the first half of 2026.
