Rio Tinto gains control of Nemaska, eyes $300M investment

An aerial view of Nemaska Lithium’s Whabouchi mine. Credit: Nemaska Lithium. Rio Tinto (ASX, LSE, NYSE: RIO) said it plans to invest more than $300 million this year to expand its lithium business in Quebec after assuming control of Nemaska Lithium.Following successive equity injections over the past year, Rio now holds 53.9% of Nemaska, compared with 46.1% for the Quebec government, according to a company statement Wednesday. Quebec has agreed to invest up to $200 million in Nemaska through equity subscrip ...